Sivaram Real Estate Public Company Limited "SVR" has announced an IPO price of 2.20 Baht per share, with trading on the MAI market set for February 8, 2023. Globlex Securities and UOB Kay Hian (Thailand) are appointed as Joint Lead Underwriters, along with Pie Securities, Dao Securities, and Finansa Cyrus as Co-Underwriters. The subscription period is from January 31 to February 2, 2023. The company is confident that this new real estate stock will meet investor demand and reinforce the growth trend of its operations over the past three years, which have surged despite the economic crisis, positioning itself for continuous high growth in the future to deliver good returns to shareholders.

On January 27, 2023, Sivaram Real Estate Public Company Limited ("SVR") signed a contract appointing Globlex Securities and UOB Kay Hian (Thailand) as Joint Lead Underwriters, along with Pie Securities, Dao Securities, and Finansa Cyrus as Co-Underwriters for the public offering of up to 130 million shares, representing no more than 25.49% of the total issued and paid-up shares after the offering, with a par value of 1.00 Baht, offered at a price of 2.20 Baht.

Mr. Kittiphan Poonchawan, Senior Managing Director of Globlex Securities, as Joint Lead Underwriter for Sivaram Real Estate Public Company Limited, revealed that the price for the public offering of 130 million shares has been set at 2.20 Baht per share, with subscriptions open from January 31 to February 2, 2023. It is expected that SVR shares will be listed on the MAI stock exchange on February 8, 2023, under the symbol "SVR" in the real estate industry sector.

The price of 2.20 Baht per share corresponds to a price-to-earnings (P/E) ratio of 13.93 times based on past performance from October 1, 2021, to September 30, 2022, reflecting the company's strong fundamentals and growth potential. Therefore, this price level is considered appropriate.

SVR is a new real estate stock to watch, showcasing the company's resilience in overcoming the economic downturn caused by the COVID-19 pandemic over the past three years, demonstrating significant growth. This reinforces the outlook for SVR's operational growth, which is poised for continuous high growth in the future.

With plans for investment expansion and the development of new projects, SVR aims to meet consumer demand for residential properties priced between 1 to 7 million Baht. The company focuses on developing residential properties on land parcels not exceeding 50 rai to diversify project development across various suitable areas, avoiding oversupply. Therefore, it is confident that once subscriptions for SVR shares open, it will be well-received by investors.

Mr. Theerasak Thaveepiyomaphorn, Managing Director of UOB Kay Hian (Thailand), as Joint Lead Underwriter, stated that the offering of SVR shares involves Globlex Securities and UOB Kay Hian acting as Joint Lead Underwriters, along with Pie Securities, Finansa Cyrus, and Dao Securities as Co-Underwriters.

SVR's strengths lie in being a new player in the horizontal real estate market, managed by a professional team focused on the "Best Smart Living" concept, emphasizing strong selling points in terms of house design, location potential, and technology application at competitive prices. Since 2019, SVR has developed 9 projects, with 2 sold out, 6 currently selling, and 1 under development.

Each location varies across different areas, including Samut Prakan, Bang Pu, industrial estates in Chonburi and Rayong, and plans for further expansion into Bangkok and its suburbs.

"We are confident that SVR shares will be well-received by investors, and we believe that after this listing, it will enhance the company's financial strength and credibility. The company aims to manage its debt-to-equity ratio post-IPO at 2:1 to support sustainable growth for SVR. As Joint Lead Underwriter, we see SVR shares as a promising investment opportunity,"

 

Mr. Aekjak Bua-phakdee, Managing Director of Capital One Partners, as a financial advisor, added that SVR is a real estate developer with high growth potential and a new stock to watch, responding to changing consumer behavior that seeks residential properties around Bangkok suitable for all generations. SVR's vision and mission focus on being an innovative real estate developer, continuously creating products and services that meet diverse lifestyle needs. SVR is committed to improving product quality, services, and organizational capabilities to adapt to changes while addressing customer needs across all price levels and generations, fostering sustainable growth alongside customers, partners, shareholders, and employees.

Mr. Attapawit Manothamraksaa, Managing Director of Sivaram Real Estate Public Company Limited ("SVR") stated that this listing on the MAI stock exchange marks a significant step reflecting the company's commitment to success. The funds raised, amounting to 286 million Baht from the share offering, will be invested to further develop projects in Bangkok and its suburbs, enhancing the value of ongoing projects under the "Best Smart Living" strategy: 1.) Convenient locations near major public utilities and close to the BTS (Smart Location); 2.) Space design that meets residents' needs for efficient use (Smart Space); 3.) Home prices that provide maximum value for buyers (Smart Value); and 4.) Innovations (Smart Home) that cater to every generation's lifestyle for greater convenience. These factors ensure that all of Sivaram's projects can meet residents' needs effectively, positioning SVR as a residential real estate developer with a growth trajectory towards high growth and a commitment to delivering good returns to shareholders.