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09 Jul 2019 16:43:00
mai News : mai welcomes property developer "ARIN" on July 10
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SET News 49/2019
July 9, 2019

mai welcomes property developer "ARIN" on July 10

BANGKOK, July 9, 2019 - Market for Alternative Investment (mai) will list 
Arinsiri Land pcl, a property developer in eastern Thailand, on July 10, under
the ticker symbol "ARIN".  The company has a market capitalization at its
initial public offering (IPO) of THB 1.1 billion (approx. USD 34.84 million).

mai President Prapan Charoenprawatt said that ARIN would list and start trading 
on mai in Property & Construction Industry Group.

ARIN has engaged in property development for sales, including detached houses, 
semi-detached houses, townhomes, and commercial buildings in Chonburi province
in the eastern part of Thailand and nearby provinces to serve the local
residential customers, under "Arinsiri" brand. The company has gained customers'
trust with proven record of various projects in construction quality and
after-sales service for more than a decade, worth a combined THB 4.05 billion.
Currently, the company is managing the development and sales of three projects
worth a total of THB 2.19 billion. In addition, there are four upcoming projects
 that the company has acquired land worth THB 1.39 billion.

ARIN has a registered paid-up capital of THB 300 million, consisting of 450 
million existing common shares and 150 million newly issued shares, with a par
value of THB 0.50 each. During July 1-3, 2019, it offered 150 million newly
issued shares to general public via IPO at THB 1.80 each, for a total of THB 270
million. The IPO price was equivalent to price-to-earnings (P/E) ratio of 60.04
times, calculated by using the company's net profit in the past 12 months
(April 1, 2018 - March 31, 2019), divided by 600 million fully diluted shares,
representing earnings per share of THB 17.99. Country Group Securities pcl is
its financial advisor and its lead underwriter.

ARIN Chief Executive Officer Wimonjit Arintamapong said that the company's 
policy is to focus on location selection, property market trends, target
customers, customer needs, and appropriate prices. Currently, our projects are
located in major provinces in eastern Thailand with high economic growth and
potential driven by Eastern Economic Corridor (EEC) development. ARIN projects'
uniqueness is the design simplicity, construction quality, decent after-sales
service and reasonable price. The fund raised would be used for project
development, and/or land investment, bond repayment and as working capital.

ARIN's major shareholders after IPO is Wimonjit Arintamapong Group (75.00 
percent).  ARIN 's dividend policy is to pay no less than 40 percent of net
profit from the company's financial statement after corporate income tax and
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  and

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