mai President Prapan Charoenprawatt said that ALL would list and start trading on mai in Property & Construction Industry Group.
ALL has engaged in residential property development for both low and high-rise condominium projects under "The Excel", "RISE" and "Impression" brands, focusing on locations along Bangkok rail transit networks and other potential areas, and townhome under "The Vision" brand. At the end of 2018, ALL's residential projects worth a combined THB 18.13 billion in its portfolio. Five completely-developed condominium projects were sold out, three fully-developed condominium projects are pending ownership transfer process, one condominium project under construction and seven off-plan condominium projects are available for sales, and one townhome project is under construction. ALL plans to develop six more projects worth totally THB 18.25 billion. It also provides real estate brokerage services for international market, investment and trading of real estate units developed by other developers, and property management services.
ALL has a registered paid-up capital of THB 560 million, consisting of 410 million existing common shares and 150 million newly issued shares, with a par value of THB 1.00 each. It offered up to 89.84 million newly issued shares to individuals under discretion of underwriters, not exceeding 32 million shares to institutional investors, no more than 13.16 million shares to the company's sponsors, and up to 15 million to the company's and subsidiaries' directors, management and employees, during April 26, 29-30, 2019 at THB 4.90 each, for a total of THB 735 million.
The IPO price was equivalent to price-to-earnings (P/E) ratio of 8.03 times, calculated by using the company's net profit in the past 12 months (January 1, 2018 - December 31, 2018) amounting to THB 343.41 million, divided by fully diluted shares, representing earnings per share of THB 0.61. Asia Plus Advisory Co., Ltd. is its financial advisor and Asia Plus Securities Co., Ltd. is its lead underwriter.
ALL Chief Executive Officer Thanakorn Thanawarith said that the company's executives have well understood in demand of both local and foreign customers, thanks to their extensive experience in real estate development business for a long time, and this encourages the company's continuous growth since the launch of its first project. The fund raised would be used for development of both low and high-rise condominium projects, loan repayment, and as working capital, to enhance business as one of the country's leading property developers.
ALL's major shareholder after IPO is Thanawarith family (73.21 percent). ALL's dividend policy is to pay no less than 40 percent of net profit from the company's separate financial statements after corporate income tax, and legal and other reserves according to the company's articles of association and legal documents.
For more information, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.allinspire.co.th and www.set.or.th.