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01 Nov 2017 17:18:00
SET News :mai welcomes Rhom Bho Property on November 2
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 News 92/2017

November 1, 2017

mai welcomes Rhom Bho Property on November 2
Bangkok, November 1, 2017 - Market for Alternative Investment (mai) will list 
Rhom Bho Property pcl, a property developer, on November 2, under the ticker
symbol "TITLE". The company has a market capitalization at its initial public
offering (IPO) of THB 880 million (approx. USD 25.14 million).
mai President Prapan Charoenprawatt said that TITLE would list and start trading
on mai in the Property & Construction industry group. TITLE is engaged in
property development project for sale with a focus on condominium under the
brand "The Title", located at Rawai Beach and Nai Yang Beach in Phuket province
in the southern part of Thailand. The company's three projects during sales
process have a combined value of THB 2.17 billion. In addition, three more
projects under construction have a total value of THB 1.3 billion. Both Thai and
 foreigners are the company's target customers.
TITLE has a paid-up registered capital of THB 200 million, consisting of 280 
million existing common shares and 120 million newly issued shares, with a par
value of THB 0.50 each. It offered 112.8 million IPO shares to general public
and another 7.20 million newly issued shares to directors, executives and/or
employees at THB 2.20 each, for a total of THB 264 million, during October
16-18. AEC Securities pcl is its financial advisor and lead underwriter.
TITLE Chief Executive Officer Dendanai Hutajuta said that the company has 
focused on prime locations, unique design, construction quality and greenery
environment which make for relaxed and leisure living like hotels or resorts.
Listing on mai will build up consumer confidence and strengthen the company's
capital base for business expansion in the future. The fund raised will be used
to develop the Title Residencies Naiyang Phuket project, and to acquire land for
 future projects.
TITLE's three major shareholders after the IPO are Hutajuta family (64.65 
percent), Sasipong Pinkeaw (3.85 percent), and Bangkok Insurance PCL (2.50
percent).The IPO price was equivalent to price-to-earnings (P/E) ratio of 13.75
times calculated by using the company's net profit in the past four quarters
(Q3/2016-Q2/ 2017) divided by fully diluted shares, representing earnings per
share of THB 0.16. TITLE's dividend policy is to pay no less than 40 percent of
net profit, after legal reserves.
For more information, please see the company's prospectus at the Securities and 
Exchange Commission's website at; and for general information,
please visit , as well as .
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