ARIN Slumps 20.5% in the First Trading Day, Expecting a Higher Revenue of ฿800m in 2019

ARIN Slumps 20.5% in the First Trading Day, Expecting a Higher Revenue of ฿800m in 2019.

Arinsiri Land Public Company Limited (ARIN) closed lower on its first trading day at ฿1.43/share, plunged ฿0.37/share or 20.56% with a trading value of THB 275 million. The highest share price during the session was ฿1.67/share while the lowest was ฿1.34/share.

ARIN issued a total of 150 million of IPO at a price of THB1.80/share on July 1-3, 2019, having Country Group Securities as an underwriter.

ARIN was registered on 13 August 2014 with registered capital of THB10,000,000. Arin focuses on real estate development for sale. The target customers of ARIN are staff members and government officers who live in Chonburi and its nearby urban, wanting to move out of the old living area.

ARIN is to be number one of the real estate developers in East of Thailand. ARIN also focuses to design uniqueness project, construction quality and excellent after-sales service. With the objective of making an impression and worthwhile to the customer, the real estate projects of the company are successful in sales and good feedback leading to continuing the real estate development project.

On March 31, 2019, there are 3 ongoing developed and sales projects and 4 future projects which are in the preparation and applying for the loan.

Pol. Gen. Werapong Chuenpagdee, Chairman of the Board of ARIN, has asserted that the company aims to book  a total revenue of THB 800 million, higher than the revenue of last year at THB 400 million. Currently, ARIN has a backlog worth THB 400 million to be recognized in succession.