Origin Property Public Company Limited (ORI) notified the Stock Exchange of Thailand that on July 30, 2021, Britannia Public Company Limited (BRI), a subsidiary of ORI, filed a form List of information on the offering of securities and the draft prospectus (Filing) for the initial public offering (IPO) to the Office of the Securities and Exchange Commission (SEC). already
In this regard, BRI will offer new ordinary shares in the amount of not more than 252.65 million shares, representing not more than 29.6% of the total issued and paid-up ordinary shares after the IPO. and plans to trade on the Stock Exchange of Thailand (SET), real estate development business
For financial advisory firms, there are 2 companies, namely Kasikorn Securities and Yuanta Securities (Thailand). They are also underwriters and underwriters. or underwright
Under the IPO plan, BRI will offer the newly issued ordinary shares to the general public. and other types of investors, including offering warrants in which the shares allocated to support the exercise of warrants to directors, executives and/or employees of BRI and/or subsidiaries of BRI (ESOP Warrant) in total not exceeding 30% of BRI’s total paid-up capital after IPO and exercise of ESOP Warrant (under the assumption that there is a subscription for newly issued ordinary shares and the use of warrants in full)
In addition, there will be an issuance and offer for sale of some newly-issued ordinary shares to directors, executives and/or employees of the Company and/or its subsidiaries in the amount of not more than 13.47 million shares at a par value (par) shares. 0.50 baht per
After the IPO, ORI will remain a major shareholder in BRI at least 70% of BRI’s paid-up capital after the IPO. and the exercise of ESOP Warrants (under the assumption that there is a subscription to the newly issued ordinary shares and the use of the warrants in full) whereby BRI will remain a subsidiary of the Company as before
Initially, the BRI was intended to use the proceeds from the IPO. to use as funds for project development business expansion pay off loan And as working capital in the business, while BRI has a policy to pay dividends of not less than 40% of the net profit.
Britannia Public Company Limited (formerly known as Origin House Company Limited) was established by ORI who holds 99.99% shares and is considered a flagship company of the ORI group in business for operates the real estate development business in low-rise housing in Thailand under 4 main brands, which are divided according to the target customer group and project type: (1) “Belgravia” brand; (2) “Grand Britannia” brand. (3) “Brittania” brand and (4) “Brighton” brand, which have received good feedback from consumers. because the company Outstanding in home design living area inside the house project format and facilities within the project to be able to truly meet the needs of modern consumers
As of June 30, 2021, 2 projects have been closed, project value is approximately 2,028 million baht, there are 13 projects in the process of selling and transferring ownership, total project value is approximately 17,550 million baht, 8 projects under development, total project value Approximately 7,000 million baht and 1 future project with a project value of approximately 1,400 million baht.
As of 29 July 2021, the shareholding structure of the Company The major shareholder is ORI, holding 100%, after selling the newly issued ordinary shares and exercising the warrants, it will be reduced to 70%.
BRI has total revenue in 2018 – 2020 of 515.47 million baht, 1,561.01 million baht and 2,342.09 million baht, and in the first three months of 2020 and 2021, 541.02 million baht and 835.77 million baht, respectively, continuously growing each year. According to the company’s project expansion plan The compound annual growth rate (CAGR) in 2018-2020 is at 113.16% per year.
Has net profit in 2018 – 2020 amounting to 71.65 million baht, 207.14 million baht and 348.72 million baht or equivalent to a net profit margin of 13.90%, 13.27% and 14.89% of total revenue, respectively.
For the first three months of 2020 and 2021, the Company’s net profit was 87.33 million baht and 130.68 million baht, or 16.14 percent and 15.64% net profit margin, respectively.
The increase in net profit was in line with the increased revenue from real estate sales according to project expansion plans. This was the highest quarterly real estate sales revenue since the Company’s revenue was recognized. The net profit margin decreased slightly. The main reason from the company Make strategic adjustments to keep prices at a level that is competitive with competitors. To stimulate sales during the economic slowdown from the impact of the Covid-19 epidemic