SET accepts ADVICE shares on first trading day on January 31 with a market value of 2 billion: InfoQuest

Mr. Manphong Sinanarong, Deputy Director, Head of Securities Issuance Department The Stock Exchange of Thailand (SET) revealed that SET welcomed Advice IT Infinite Public Company Limited to register and begin trading on the stock exchange. In the Service Group business category using the securities trading abbreviation “ADVICE” on January 31, 2024.

ADVICE is one of the largest retail and wholesale IT distributors in the country under the name “Advice” and is an IT supermarket. It sells a diverse range of IT products covering both general IT products and products with special needs, such as gear intended for gamers, streamers, YouTubers and creators. Including digital lifestyle products and the Internet of Things (IoT) for smartphones and home appliances. It is distributed through 338 branches nationwide and electronic channels, in addition to providing a claim service for products that have problems with the manufacturer. Providing maintenance services and complete inspection of IT equipment

ADVICE has a total of 620,000,000 shares issued and paid up after the IPO, consisting of 450,000,000 original ordinary shares and an additional 170,000,000 ordinary shares with a par value of 0.50 baht per share. The total registered and paid-up capital after the IPO is 310,000,000 baht, offering to resell additional ordinary shares for the first public offering from January 22 to 24, 2024 at a price of 3.24 baht per share and having a security value at the IPO price of 2,008.8 million baht, and the offering price is calculated The offering shares have a price-to-net EPS (P/E) ratio of 7.26 times, with KGI Securities (Thailand) as financial advisor and Asia Plus Securities as underwriter and underwriter for the distribution of the common shares.

Mr. Nat Natanithikarat, CEO of ADVICE, revealed that ADVICE has become a listed company on the Stock Exchange of Thailand. This is an important step that increases the chances of business expansion. We firmly believe in the strength of the capital base after this time of fundraising. Being a listed company with good corporate governance, this will allow the company to grow continuously and sustainably in the future.

ADVICE plans to use the funds raised to expand new branches and modernize existing ones. Including using it to repay loans from financial institutions. It is used as working capital to purchase products. And investing in improving the company's information technology system

The company follows a policy of distributing dividends to shareholders at a rate of no less than 40% of net profits according to the separate financial statements after deducting all types of reserves required by law and the company. They are determined each year, however, dividend payment consideration may change depending on suitability and future operating plans. As the Board of Directors and/or the Company's shareholders deem appropriate

But after the IPO and the original common stock is sold on the first day of trading on the stock exchange. There will be major shareholders including 1) Thai Joint Venture Group Co., Ltd., 25.8%, 2) Mr. Nath Natthikarat, 25.2%, and 3) Mr. Amorn Thathong, 9.9%, representing a total shareholding of 60.9%. of paid-up registered capital

By InfoQuest News Agency (January 30, 2024)

Tags: Advice, Natthikarat, SET, Stock Exchange of Thailand, Thai Stocks, Manpong Senanarong, Advice IT Infinite

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