Chu Kai manufactures cranes and other lifting equipment, such as forklifts, and offers rental services. The company also imports used cranes, from other Asian markets such as Japan. The first part of the group, The Crane Service, was established in 1990 by Thongchai Praerangsia, to offer crane repairs, and Chu Kai group was established in 1997 as a parent for four subsidiaries, engaged in repairs, imports, and rental services.
Chu Kai had total revenues of THB598.99m (EUR12.8m, USD18.6m) in the first nine months of 2007. Of this, THB323.41m, or 59.9%, came from equipment rental, THB219.96m (36.72%) from the sale of modified equipment, THB39.04m (6.52%) from transportation, and THB6.03m (1.03%) from repairs and parts sales, with the remainder from other sources.
It will be offering 450m shares on MAI, for THB1 per share. The deal would value the company at EUR9.61m, or USD13.97m. It will use THB185m in 2008 to pay off loans, and THB95m for working capital. In the longer term, it seeks to improve its turnkey plant installation services, to allow it to compete with foreign rivals such as Mammouet, Sarens, Tat Hong and Tiong Woon. The IPO will start on 13 February 2008.
