May 3, 2019, is the first trading day of Veranda Resort Public Company Limited (VRANDA), who is both a hotel and real estate operator and developer. The company has paid-up stock at 319,681,672 shares at the par value of ฿5.00/share and paid-up capital of THB 1,598,408,360. VRANDA had made its Initial Public Offering (IPO) on April 24-26, 2019, at the price of ฿10.00/share for a total of 75 million shares.
The share price of VRANDA rose ฿1.20/share or 12% to ฿11.20/share at the opening bell with a trading value of THB 177 million.
Bualuang Securities has given a fair value of VRANDA at ฿11.62-12.01/share. PER at 23.7-24.5x, giving a positive view on constant growth in tourism while having an outstanding growth in 2018 along with the highest tourist ratio in the sector.
VRANDA operates hotel and real estate development. There are 6 hotels consist of 5 operating hotels; 1) Veranda Resort Huahin 2) Verande The High Resort Chiangmai 3) So Sofitel Bangkok 4) Veranda Resort Pattaya and 5) Rocky’s Boutique Resort and 1 under construction hotel; Verso Huahin.
Moreover, there are 3 residential projects consist of 2 ready-to-move-in projects; 1) Veranda High Residence Chiangmai and 2) Veranda Residence Pattaya and 1 developing projects; Veranda Residence Huahin.