PRI closed the first trading day at 19.20 baht, up 28% from the IPO : InfoQuest

PRI closed the first trading day at 19.20 baht, an increase of 4.20 baht or +28.00% from the IPO price of 15.00 baht, a trading value of 4,516.47 million baht from the opening price of 21.50 baht, the highest price of 21.90 baht, the lowest price of 18.10 baht.

Ms Jatuporn Wilaikaew, Chief Executive Officer of Primo Service Solutions Public Company Limited (PRI), revealed that the company has traded PRI shares for the first time on the Market for Alternative Investments (May), leading integrated real estate related services for real estate project clients and retail clients. The service covers from before moving in. already resident and after selling real estate AND driving the service with modern technology (Tech Service) with an application (PRIMO Plus) developed to connect and provide services to customers.

There is also a customer base from Origin Property Plc (ORI) and general customers with long term and occasional service contracts. Helps support income stability. it will generate continuous growth and promote the partnership Be the leader of the real estate service business A complete solution that has continued to grow in line with the goals set

The range of services can be divided into 3 main business groups: 1) Pre-Living Services such as consultancy and construction supervision, architectural design services. Structural engineering and building systems, etc. 2) Real estate management business (Living Services) such as legal person management services condominium housing development office building Real estate brokerage services, real estate management services for long-term rental, etc., and 3) real estate after-sales service business (Services Live and Win), such as interior design and home decoration services. Condominiums and common areas of real estate projects, residential cleaning services central real estate projects Office buildings and factories, mechanic services and moving items, etc.

The company has a strategy to expand the service and create new services. more variety to meet all living needs in all rhythms of life (At Your Service, Every Moment) as well as being the first brand that customers think about when they want to use services related to real estate as well as planning to expanding investments in businesses related to the Company’s core business to increase potential and strength in operations Currently, it is in the process of studying the possibility of expanding the business. Including giving importance to investing in technology development Increasing convenience, speed and increasing efficiency in reaching target customers and responding better to customer needs.

Although the performance of the year 2019-21 has a total income of 255.69 million baht, 266.51 million baht and 489.56 million baht, respectively, an average growth of 30.48% per year and a net profit of 34.52 million baht, 40.05 million baht and 111.25 million baht respectively, average growth of 74.09% per year Year

Regarding the operating results for the first 9 months of 2022, the total income was 604.26 million baht, growing 95.92% from the same period last year. and had a net profit of 156.02 million baht, an increase of 128.17% from the same period last year. Because the income of all 3 business groups has grown well. and has a profitability rate that is continuously improving Although the return on assets (ROA) is 61.62% and the return on equity (ROE) is 81.20%.

Mr Prasert Tantayawit, Managing Director of Asia Plus Advisory Co, Ltd, said as a financial advisor, PRI is a company with strong fundamentals. with more than 11 years of experience in business with a variety of strengths In particular, being the first operator to provide a full range of services related to real estate. by being able to offer a wide range of end-to-end services for real estate project developers and meet the residential needs of retail customers This helps to create competitive advantages and differentiate from other operators.

Currently, PRI has a customer base of real estate projects and retail customers of ORI, the parent company of leading real estate developers. and providing services to customers of real estate projects and retail customers in general Including having a long-term service contract for customers, so there is continuous income.

In addition, PRI’s business operations will benefit from the general recovery of the real estate business and the launch of many new projects. Including the lifestyle of today’s residents who want more convenience. By listing on the Market for Alternative Investments (May) this time will improve the potential of capital to expand the business and increase operational flexibility. Including use as working capital in the business

Ms. Yodrudee Santtikul, Executive Director of Asia Plus Securities Co, Ltd as the underwriter and the underwriter Believes that with the potential of PRI, which is a stock with excellent growth performance One stop service is available. Able to meet the needs of real estate developer and retail customers as a one-stop service. Including ongoing business expansion plans, it will be a Growth Stock that continues to grow with potential.

By InfoQuest News Agency (30 Nov ’22)

Tags: IPO , PRI , Jatuporn Wilaikaew , Primo Service Solutions , Thai stocks

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