This morning (January 31, 2024) Advice IT Infinite Public Company Limited or ADVICE filed its shares for the first day of trading on the Stock Exchange of Thailand (SET) byThe offering price was set at 3.24 baht per share after the market opened this morning. Share prices rose and the highest level was 6.20 baht per share, an increase of 91.3% over the IPO price, and then, around 10:20 am, the price fell to 5.10 baht per share, an increase of 57.41% over the IPO price.
but, Tip Enter a group In the service/trade business category, the data showed that ADVICE Operate retail and wholesale business. IT Products and Services As of September 30, 2023, the company has a total of 338 “advice” branches, divided into 1) subsidiary branches with 110 locations located in Bangkok, the capital region and in important provinces in Thailand and 2) another 228 franchise branches distributed in Communities in various provinces and provinces across Thailand, including the Lao People's Democratic Republic.
As for previous operating results over the past three years (2020 – 2022), the company achieved sales and service revenues of 12,541.2 million baht, 14,305.8 million baht, and 14,388.2 million baht, representing an average growth rate (CAGR) equivalent to 8.1 % annually and net profits amounted to 233.8 million baht, 430.2 million baht, and 205.7 million baht, respectively.
In the first nine months of 2023, the company achieved sales and service revenue of 10,336.5 million baht, a decrease of 8.2% from the same period last year. This is considered a better decline than the overall market. This is due to adaptation to its natural situation. After increased demand for IT products especially during the Covid-19 situation, resulting in net profits of 136.5 million baht during 9 months of 2023.
The company derives the majority of its income, more than 65%, from the retail business of IT products. It is the sale of products through the company's subsidiary channels and online channels, including sales to corporate customers. While another 35% of income comes from wholesale IT products to franchise branches and product distributors in various provinces. In addition, the company also has income from service businesses. Which mainly provides repair services for computers and various electronic devices.
The company aims to increase its market share over the next three years to drive sales growth. It is expected that there will be a total of 390 storefronts to advise with the opening of an additional 20 branches of the company in potential locations. Focusing mainly on Bangkok and surrounding area we are ready to expand the franchise branches to 30 more locations.
However, the funds raised from this IPO will be used for four purposes:
- Investing in expanding the company's business, including expanding the company's branches. And making improvements to the company's current branches
- Repayment of loans from financial institutions
- It is working capital to purchase products.
- Investing in improving IT systems
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