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Britania (SET: BRI) Starts First Day of IPO Trading on the SET

By: via ACN Newswire
BANGKOK, Dec 21, 2021 - (ACN Newswire) - Britania PCL (SET: BRI) is debuting its IPO shares in the stock market, putting forward an impressive performance between 2018 and 2020 with an average annual growth rate of 113%. Revenue during the first 9 months of this year stands at 2,808.57 million baht, growing by 52%. Further plans include 9 new low-rise housing projects next year across the Bangkok Metropolis and certain provinces, valued at 10,800 million baht.

Mrs. Supalak Chanpitak, Chief Executive Officer, BRI, reports that the trading of its IPO shares on the Stock Exchange of Thailand starts today (Dec. 21, 2021) under the symbol "BRI".

The CEO is confident that the BRI securities will receive a positive response from investors interested in real estate companies. As an expert developer of low-rise housing and a flagship company of Origin Property Public Company Limited, Britania is expected to gain investors' trust.

Since its inception in 2016, BRI has been growing by leaps and bounds. In 2019, the company launched a single project. That number ballooned to 21 in 2022. Revenues and profits grew in step with the company's growth. Total revenue in 2018 came in at 515.47 million baht; it grew to 2,342.09 million baht in 2020 at the CAGR rate of 113.16%. The first nine months of this year generated 2,808.57 million baht in revenue, a growth of 52.18% over the same period last year which saw the revenue of 1,845.59 million baht.

Profit, too, took a great leap during that time. In 2018 it stood at 71.65 million baht and grew to 348.72 million baht in 2020. During the first nine months of this year, 452.30 million baht was made in profit, increasing by 55.93% over the same period last year with a profit of 290.08 million baht. The company's stellar performance stemmed from launching of projects in locations that matched the need for housing as cities together with infrastructures and transportation systems grew.

Mrs. Supalak says the proceeds from the capital raised in the SET will be invested in project development, and used to pay loans and maintain cash flow. Plans have been set for 2022 to develop nine new projects at the cost of 10,800 million baht by highlighting the brands "Britania" and "Grand Britania" to attract clients at the middle and upper levels in Bangkok and vicinity as well as provinces with high potential. Provinces targeted include Rayong and Udon Thani. Rayong is an important part of the Eastern Economic Corridor (EEC) and is home to several industrial estates. Udon Thani, meanwhile, is a leading economic province in the northeast, having a large population with high purchasing power.

Mr. Pongsak Phrukpaisal, Managing Director, Kasikorn Securities Public Company Limited, as the IPO's financial advisor and underwriter, says Britania PCL is a highly successful real estate company. Its first IPO offers 252.65 million shares at 10.50 baht a share, which will yield a total of 2,652.83 million baht.

Britania, he says, has been growing rapidly, having launched new projects continuously, with the result that income and profit have grown in step. The company is capable of managing capital efficiently, generating admirable rates of gross and net profits. Its consistent pace of growth means it could take advantage of the economy of scale in terms of negotiating lower prices for construction materials. It is also able to manage other costs efficiently. In addition, the company has received support from its parent company, Origin Property PCL, boosting its ability to gain advantage even more from the economy of scale and benefitting from new innovative researches conducted by the ORI Group.

Mr. Payupat Mahabhol, Managing Director, Yuanta Securities (Thailand) Company Limited, co-financial advisor and underwriter, adds that Britania is a premier real estate developer of low-rise housing projects with a long-term growth potential as it spans out across the Bangkok Metropolis as well as leading provinces in various regions across the country.

Mr. Payupat points out that the real estate sector is benefiting from the economic recovery that is underway. At the same time, the Bank of Thailand (BoT) has further eased the loan-to-value (LTV) ratio for mortgage lending to allow homebuyers to borrow loans of up to 100% of the property value. This will be a positive factor contributing to the growth of the real estate sector and boosting the number of projects to be launched by Britania.

Released by Public Relations Dept., MT Multimedia Co. Ltd. for Britania PCL
For more information, please contact: Orn-anong pattaravejkul
Tel: 086-801-8888, 099-194-6597
Email: ornanong.p@mtmultimedia.com

Source: Britania PCL

Copyright 2021 ACN Newswire . All rights reserved.

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