Peace and Living Public Company Limited or PEACE has announced an IPO share price of 3.98 Baht per share, preparing to open subscriptions for retail investors from February 2-4 and 7. It is expected to commence trading on the Stock Exchange of Thailand (SET) on February 10, 2022, under the ticker symbol “PEACE,” reaffirming its goal to become one of Thailand's leading horizontal property developers and to triple its operational performance within the next five years.

Mr. Prasopsak Sirisopana, CEO of Peace and Living Public Company Limited (PEACE), an expert in residential horizontal property development with over 30 years of experience, stated that the company aims to become one of Thailand's leading horizontal property developers. This fundraising in the Stock Exchange of Thailand (SET) will enhance the company's operational capabilities and strengthen its financial position to support the development of comprehensive real estate projects in the future, with a vision for successful and sustainable growth under good governance, considering the environment, society, and all stakeholders.

The company aims to double its sales revenue by 2024 from the 2021 sales revenue base, and by 2026, sales revenue is expected to triple from the 2021 base. This marks the beginning of bringing PEACE to be listed on the Stock Exchange of Thailand, alongside the anticipated recovery of the real estate business post-COVID-19 crisis. However, PEACE's future growth will focus on generating revenue and profit simultaneously, with a target to maintain a gross profit margin of 35-40%, similar to the past 10 years.

Moving forward, the company will continuously develop real estate projects to achieve these goals. Currently, it is developing three new projects with a total project value of over 3,045 million Baht, including: 1. Cherene Project in Bangkapi-Romklao, a single-house project valued at approximately 648 million Baht, featuring a large common area with a jogging track and bike lane in the park, along with access roads adjacent to Romklao Road and a unique main runway road; 2. CHEREA VICINITY Project in Ratchaphruek-Jesadabodin, comprising single houses, twin houses, and two-story townhomes valued at approximately 1,845 million Baht; and 3. Cher Project in Ratchaphruek-Rama 5, a two to three-story townhome project valued at approximately 552 million Baht, for which land purchase agreements have already been signed and deposits paid.

These new projects are expected to gradually launch in the third quarter of 2022, with a policy focused on creating the best quality homes for each customer group at appropriate price levels, while emphasizing buyers seeking horizontal housing with various functions that meet real living lifestyles.

Mr. Prasert Tantayawit, Managing Director of Investment Banking at Maybank Securities (Thailand) Public Company Limited, as the financial advisor and underwriter, revealed that Peace and Living Public Company Limited has set the IPO price for common shares at 3.98 Baht per share, preparing to open subscriptions for the IPO from February 2-4 and 7, 2022, through Maybank Securities (Thailand) Public Company Limited, which is the underwriter and distributor of the common shares, along with three co-underwriters: Asia Plus Securities, TISCO Securities, and KTBST Securities. It is expected to be listed and commence trading on the Stock Exchange of Thailand (SET) on February 10, 2022, under the ticker symbol “PEACE.”

“The IPO share price of PEACE at 3.98 Baht per share is considered appropriate based on strong fundamentals, growth potential, and investment plans, along with stable operational performance and opportunities for continuous growth in the future. PEACE benefits from changing consumer behavior in housing purchases post-COVID-19, as consumers are now opting for horizontal housing projects around the city instead of looking for condominiums in urban areas, seeking more usable space for work and living, which has led to growth in the horizontal housing market and less impact during the pandemic, supporting the company's growth,” Mr. Prasert stated.

The recent online roadshow to provide information to retail investors has received a positive response from many investors who participated in listening to the company's operational plans and future goals. PEACE is a medium-sized horizontal property development company with over 30 years of experience, allowing it to have strong management expertise and a track record of continuous success, generating revenue, net profit, and dividends for shareholders every year, with a relatively high dividend payout ratio compared to net profit each year. Additionally, the company manages costs efficiently, has very low debt levels, and maintains a low cost of fund, comparable to leading companies in the industry, providing PEACE with significant growth opportunities in the future.

Currently, the company has a registered capital of 420 million Baht, with a par value of 1.00 Baht per share, and paid-up capital of 336 million Baht, equivalent to 336 million common shares. It will offer up to 84 million common shares to the public for the first time (IPO), representing 20.00% of the total issued and paid-up common shares. PEACE will use the proceeds from this securities offering, after deducting related expenses, for land investment to develop the company's real estate projects.