SEC Approves ALL's IPO Offering of 150 Million Shares to Fund Business Expansion as a Leading Real Estate Developer in the Country

Feb 12, 2019 | view 1,089

Bangkok - The SEC has officially accepted the filing from All Inspire Development Public Company Limited, a real estate development company, to list its shares on the MAI Stock Exchange. The company plans to offer 150 million IPO shares with a par value of 1 baht per share. CEO Thanakorn Thanvarit aims to use the funds to develop condominium projects in high-potential areas, focusing on meeting consumer demand, with a goal of becoming a top 10 real estate development company in Thailand. <\/span><\/div>

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Asia Plus Advisory Company Limited, serving as the financial advisor for All Inspire Development Public Company Limited ("the Company") under the ticker symbol "ALL," announced that after the company submitted its request for approval to offer securities and the filing document to the SEC for the first-time public offering (IPO) of 150 million shares, representing 26.79% of the total issued and paid-up shares of the company, the SEC has officially accepted the request for approval and the filing of All Inspire Development Public Company Limited. <\/span><\/div>

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Currently, "ALL" has a registered capital of 560 million baht and fully paid-up capital of 410 million baht, equivalent to 410 million shares. The company primarily focuses on developing residential real estate, including both low-rise and high-rise condominiums, as well as horizontal residential projects such as townhomes under the brands The Excel Rise Impression and The Vision. Additionally, it is involved in related real estate services, including acting as agents and brokers for real estate sales in international markets, operating under Thai D Real Estate Company Limited ("Thai D"), investing in and trading completed real estate under the name "Rise Venture," operated by Rise Estate Company Limited ("RISE"), and providing management services for condominium juristic persons under All Property Service Company Limited ("ALL Prop").

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Furthermore, "ALL" has investments in two joint ventures: All Inspire-Hoosier Sukhumvit 50 Company Limited ("ALL Hoosiers") to develop The Excel Hideaway Sukhumvit 50, a low-rise condominium, and AHJ Ekkamai Company Limited ("AHJ Ekkamai") to develop The Impression Ekkamai, a high-rise condominium.

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In terms of performance over the past three years, from 2015 to 2017 and the first nine months of 2018, the group has seen continuous growth in total revenue and net profit. In 2015, total revenue was 109.14 million baht, increasing to 419.69 million baht, 714.50 million baht, and 1,626.77 million baht, respectively. During the same period, the group reported net profits of 3.55 million baht, 11.03 million baht, 80.80 million baht, and 212.73 million baht, respectively. The main reason for the continuous increase in total revenue and net profit is the recognition of revenue from property sales, which has increased in line with completed projects and ownership transfers each year since the first transfer in 2015.

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CEO Thanakorn Thanvarit stated that the company aims to use the funds raised from this securities offering to finance the development of real estate projects in various high-potential areas, repay loans from financial institutions, and provide working capital for future operations.

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The company envisions becoming a leading real estate development company ranked among the top 10 in the country to build credibility and confidence among stakeholders, including shareholders, partners, and employees. This IPO will enable the company to access funding from the money and capital markets for future real estate project developments.

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Additionally, the company plans to develop six future real estate projects with a total project value of approximately 15.35 billion baht, including three low-rise condominium projects valued at around 3.65 billion baht and three high-rise condominium projects valued at approximately 11.7 billion baht, expected to be available for sale starting in 2019.

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The CEO of All Inspire Development also emphasized that "ALL" focuses on developing projects in areas within the radius of Bangkok's mass transit systems, particularly the BTS Green Line and MRT Blue Line, as well as other high-potential locations, to meet the lifestyle needs of the new generation. The company emphasizes functionality, modern design, and aims to create living spaces that residents can truly enjoy, maximizing the utility of both common areas and the surrounding environment at affordable prices, in line with the concept of "Class of Living" - a life of quality that you choose yourself.<\/span><\/div>

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Thank you for the information from www.allinspire.co.th<\/a><\/span><\/div>