Mr. Suwatchai Pitakwongsaporn, Managing Director of Atlas Energy Public Company Limited (SET: ATLAS), confirmed that the IPO shares offered, totaling no more than 418,420,000 shares or 29.50% of the total issued and paid-up ordinary shares, were not allotted to any investor at a price lower than THB 3 per share, following a sharp drop in price at the first trading day in the Thai stock market on October 20, 2025.
The company set the offering price equally for all groups, including directors, executives, employees of PTG Energy Public Company Limited (SET: PTG) and its subsidiaries (excluding the ATLAS group), company benefactors, and individuals at the discretion of the underwriter. The company adheres to operations that are transparent, auditable, and fair to all investors.
Additionally, for the shares held by major shareholders or PTG, apart from those subject to the Silent Period in accordance with regulations, all remaining PTG shares have been locked up to demonstrate confidence in ATLAS’s potential and affirm their commitment to long-term shareholding.
Mr. Suwatchai further stated that the company plans to use the funds raised, approximately THB 1.2 billion, for business expansion as previously disclosed. The details are as follows:
- Invest in increasing liquefied petroleum gas (LPG) filling plants and retail outlets.
- Invest in increasing LPG cylinders to support the growth of LPG sales in the household sector.
- Invest in expanding LPG service stations to support the growth of LPG sales in the transport sector.
- Invest in the “PT Auto Transform” project to increase the number of LPG-fueled vehicles.
- Invest in expanding the industrial and commercial customer base.
- Invest in businesses related to LPG distribution.
- Use as working capital for the company’s operations.
Confidently, this will help continue growth at an average rate of over 40% per year as seen in the past, while generating strong and stable returns for shareholders over the long term.
