Primo Service Solutions expects to trade on the May market on November 30 : InfoQuest

Ms Jatuporn Wilaikaew, Chief Executive Officer of Primo Service Solutions Plc. (PRI), expects the company The shares will be traded for the first day on the Market for Alternative Investments (may) on November 30, using the abbreviation PRI for securities trading. After receiving an enthusiastic response from investors in the initial public offering of ordinary shares (IPO) on November 22-24, Leads to the ability to raise funds in line with the goal It shows the confidence of investors in the fundamentals and operational potential of the company.

However, PRI has strengths that differ from other operators in the business. It is a full service provider related to real estate. (One Stop Service) covering 3 main businesses as follows:

1) Business consulting and engineering design (Pre-Live Services) such as construction consulting and supervision services, structural engineering architectural design services, etc.

2) Real estate management business (Living Services) such as managing a legal person for condominiums, housing estates, office buildings, acquiring condominium tenants, providing real estate management for long term rentals etc.

3) Real estate after-sales service (Live and Win Services) such as interior design services, decoration of common areas and sales offices of real estate projects, interior cleaning, mechanical services and moving things, etc. Meet the needs of project customers from start to finish. Since being a consultant, finding a partner, designing, building Until the transfer of ownership and after-sales service Including providing a variety of housing services for retail customers to meet the needs and increase the convenience of living. There is also a customer base from Plc. Origin Properties (ORI), parent company and earns a steady income from long-term service contracts and occasional service.

The company plans to expand its business in providing a full range of services related to real estate. to create strong and continuous growth It will focus on expanding businesses related to the company’s main business. and investment in technology development to drive services (Tech Service Company) to customers faster and more efficiently with the aim of being a leader in the Modern, fully integrated and continuously growing real estate service business

Although the company’s performance in 2019 – 2021 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 has a net profit of 34.52 million baht, 40.05 million baht and 111. million baht, respectively, with an average growth of 74.09% per 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. Effective management of administrative costs and income from providing real estate brokerage services Increased land and co-investors to develop real estate projects, namely the income from projects with good profit. Although the return on assets (ROA) for the first 9 months of 2022 was 61.62% and the return on equity (ROE) was 81.20%.

Mr Prasert Tantayawit, Managing Director of Asia Plus Advisory Company Limited as a financial advisor He said Primo Service Solutions Plc is a leading operator in the real estate related services business with high growth potential. with the strength of providing a full range of services before moving in Already living in and service real estate after the sale So, there is a strong business ecosystem (Eco System). It is also a leading company in the aforementioned Origin Property Plc business. Major real estate developers There are different customer bases, both real estate projects and retail customers of Origin Property Public Company Limited (parent company) and real estate projects and retail customers in general.

In addition, the operating performance has continued to grow strongly, even in the past 2-3 years, the spread of COVID-19 has affected the overall economy. Listing on the Market for Alternative Investments (MAI), Primo Service Solutions Plc will use the proceeds from the funding to expand businesses related to existing businesses. Development of technology systems used for providing services to customers and working capital in the business.

Ms. Yodrudee Santtikul Executive Director Asia Plus Securities Co, Ltd as underwriter and underwriter He said the initial public offering of newly issued ordinary shares (IPO) by Primo Service Solutions Public Company Limited was held on November 22-24. At the offer price of 15 baht per share, it was enthusiastically received by investors who expressed their desire to subscribe for more than the allotted IPO shares and managed to close the IPO as a target of 80 million shares or equivalent with 25% of the Company’s total issued and paid up ordinary shares After this offering of newly issued ordinary shares Reflecting investors’ confidence in fundamentals, Primo Service Solutions Plc has the potential to grow significantly in after the expansion of the real estate business. and create new services related to real estate Meet the needs of customers, projects and retail as a one-stop service. Willing to bring modern technology to improve service and reach customers more efficiently In order to maintain the existing customer base, continuously use the service and expand the new customer base.

By InfoQuest News Agency (25 Nov ’22)

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

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