Shares of Britannia Public Company Limited or BRI were listed on the Stock Exchange of Thailand (SET) for the first day today (December 21). The trading price opened at 11 baht, an increase of 0.50 baht from the IPO price of 10.50 baht. It is an increase of 4.76% during the opening of trading. The price climbed to the highest point at 11.10 baht.
BRI has a stock value at the IPO price of 8,953 million baht. BRI is a flagship company of Origin Property Plc. (ORI) in real estate development business. Low-rise housing under 4 brands, categorized according to target customers and diverse project styles. Detached houses, semi-detached houses and townhomes include Belgravia, Grand Britannia, Britannia and Brighton brands.
BRI has a paid-up capital after IPO of 426.33 million baht, with a par value of 0.50 baht per share, consisting of 600 million ordinary shares and 252.65 million newly issued ordinary shares offered to the general public (IPO) at the offering price. 10.50 baht per share, representing a total fundraising value of 2,652.83 million baht.
IPO pricing is calculated as a price-to-earnings per share ratio (P/E Ratio) of 17.52 times, calculated from the company’s 12-month performance divided by the total number of shares after the IPO ( Fully Diluted), accounting for a net profit per share of 0.60 baht, with Kasikorn Securities and Yuanta Securities (Thailand) as financial advisors and underwriters and underwriters.
Supaluck Chanpitak BRI Chief Executive Officer said that listing the company’s common stock on the stock exchange will increase the company’s competitiveness. and strengthening the financial strength of the company both in terms of lower financial costs Confidence of partners and consumers including increasing opportunities for investment expansion and new project development
BRI plans to use the proceeds from the fundraising to develop the company’s projects. including repayment of loans And the rest is used as working capital within the company.
The top 3 major shareholders after IPO are 1. Origin Property Plc. holding 70.00% 2. Jaroon-ek Family holding 2.49% and 3. Chonkhadee Damrong family Kul owns 0.70%
The company has a policy to pay dividends to shareholders at the rate of not less than 40% of the net profit according to the separate financial statements after tax. and legal reserve
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‘BRI’ enters first day of trading, price is only 4.76% higher than IPO – THE STANDARD comes via ChinaTechNews.com.