mai welcomes “JPARK”

Editorial staff 

mai welcomes parking management company “JPARK” on Oct 3

Market for Alternative Investment (mai) will list Jenkongklai pcl, a parking management company, on October 3 under the ticker symbol “JPARK”.

The company has a market capitalization at its initial public offering (IPO) of 1.52 billion baht (appox. USD 41.63 million).

mai president Prapan Charoenprawatt said JPARK will be listed and start trading on mai in the Services industry group.

JPARK provides parking management services with three main businesses: (1) parking services, (2) parking management services, and (3) consultant and installation parking system.

For parking services and parking management services, the company has long-term contracts in a range of 12-36 months with property owners and such contracts have always been renewed. The company also subleases the spaces that are not used as parking slots for outsiders to open businesses such as eateries and convenience stores.

At present, the company operates 63 parking areas which cover about 28,000 parking slots altogether. The parking areas include those at interchange stations, shopping centers, markets, hospitals, schools and airports. Most of them are in Greater Bangkok because there are a significant number of private vehicle users.

The company is investing up to 300 million baht for the construction of a parking building near Pranangklao Hospital and it is expected to commercially commence by the third quarter of 2024.

After the IPO, JPARK has a paid-up capital of 200 million baht, consisting of 290 million existing common shares and 110 million newly issued shares, with a par value of 0.50 baht each.

The company offered at least 82.5 million shares to persons at underwriters’ discretion, up to 16.5 million shares to its patrons and 11 million shares to its directors, executives and employees during September 25-27, 2023, at 3.80 baht each for a total of 418 million baht in fund raised.