mai welcomes Rhom Bho Property on November 2

Stocks and Financial Services Press Releases Wednesday November 1, 2017 17:41
Bangkok--1 Nov--“SET

Market for Alternative Investment (mai) will list Rhom Bho Property pcl, a property developer, on November 2, under the ticker symbol "TITLE". The company has a market capitalization at its initial public offering (IPO) of THB 880 million (approx. USD 25.14 million).

mai President Prapan Charoenprawatt said that TITLE would list and start trading on mai in the Property & Construction industry group. TITLE is engaged in property development project for sale with a focus on condominium under the brand "The Title", located at Rawai Beach and Nai Yang Beach in Phuket province in the southern part of Thailand. The company's three projects during sales process have a combined value of THB 2.17 billion. In addition, three more projects under construction have a total value of THB 1.3 billion. Both Thai and foreigners are the company's target customers.

TITLE has a paid-up registered capital of THB 200 million, consisting of 280 million existing common shares and 120 million newly issued shares, with a par value of THB 0.50 each. It offered 112.8 million IPO shares to general public and another 7.20 million newly issued shares to directors, executives and/or employees at THB 2.20 each, for a total of THB 264 million, during October 16-18. AEC Securities pcl is its financial advisor and lead underwriter.

TITLE Chief Executive Officer Dendanai Hutajuta said that the company has focused on prime locations, unique design, construction quality and greenery environment which make for relaxed and leisure living like hotels or resorts. Listing on mai will build up consumer confidence and strengthen the company's capital base for business expansion in the future. The fund raised will be used to develop the Title Residencies Naiyang Phuket project, and to acquire land for future projects.

TITLE's three major shareholders after the IPO are Hutajuta family (64.65 percent), Sasipong Pinkeaw (3.85 percent), and Bangkok Insurance PCL (2.50 percent).The IPO price was equivalent to price-to-earnings (P/E) ratio of 13.75 times calculated by using the company's net profit in the past four quarters (Q3/2016-Q2/ 2017) divided by fully diluted shares, representing earnings per share of THB 0.16. TITLE's dividend policy is to pay no less than 40 percent of net profit, after legal reserves.

For more information, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.rhombho.co.th , as well as www.set.or.th .


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