Penelesmatic Solutions Public Company Limited (PANEL) is offering 50 million ordinary shares to the general public for the first time (IPO), with a par value of 0.50 baht per share, and setting the offering price at 3.68 baht per share. Period from 14 to 16 February 2024, listed on the Alternative Investment Market (ALI), Real Estate and Construction category.
Determine the price of the company's common shares offered for sale at this time. It is determined on the basis of comparative value with the value of securities on the stock exchange. Which can be referenced (compared to the market) by looking at the company's price-to-earnings-per-share ratio (price-to-earnings ratio: P/E) and the conditions for trading shares on the stock exchange.
The IPO share price is 3.68 baht per share, equivalent to an earnings multiple of 21.90 times compared to a net profit of 0.17 baht per share, which is calculated from net profit over the past four quarters. From October 1, 2022 to September 30, 2023 in the amount of 23.53 million baht divided by the total number of shares of 140 million pre-IPO shares with a nominal value of 0.50 baht per share (pre-IPO dilution).
It is calculated on the basis of a price-earnings ratio of 29.72 times compared to a net profit of 0.12 baht per share, calculated from the net profit of the past four quarters. From October 1, 2022 to September 30, 2023 in the amount of 23.53 million baht divided by the total number of shares after the IPO, which is equivalent to 190 million shares with a nominal value of 0.50 baht per share (post-IPO dilution).
The book value of 0.60 baht per share, calculated from the value of shareholders' equity as of September 30, 2023, is equivalent to 84.26 million baht divided by the number of shares of 140 million shares before the IPO.
PANEL manufactures, imports and distributes soundproof sliding walls. Soundproof materials for architecture including automatic door systems and materials for hospitals and public health and providing other related comprehensive services. The company will use 140 million baht from the fundraising to build a new factory, repay 30 million baht of loans, and use 14 million baht as working capital.
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