Assetwise Public Company Limited (ASW) kicked off its first trading day in the Stock Exchange of Thailand (SET) Index with a gain of 20.16% from its IPO price at Bt9.82 to Bt11.80 per share with a trading value of 1,289 million baht.
The company reported a net profit of 873 million baht in 2020, increased 169% from a net profit of 324 million baht in 2019.
ASW is a holding company which has subsidiary operating core business companies that operate in property development for sale, including condominium, single house, townhome and home office.
ASW Chief Executive Officer Kromchet Vipanpong said that listing on the Thai bourse will enhance the company’s competitiveness and strengthen the company’s financial status in terms of helping reduce financial costs, and boosting confidence among partners and consumers. In addition, this will widen opportunities in investment and new project development while driving business growth as planned. The fund raised will be used to develop high-rise and low-rise condominium projects as well as horizontal real estate projects. Part of the fund will be used to repay debts to financial institutions and certain
amount will be allocated as working capital.