LiVEx welcomes today property sales

Editorial Staff

LiVEx welcomes today property sales, marketing and management consultancy “MMM23”

LiVE Exchange (LiVEx) lists today MMM Capital pcl, a property sales, marketing and management consultancy, under the ticker symbol “MMM23”. The company has a market capitalization at its initial public offering (IPO) of one billion baht (approx. USD 27.97 million).

LiVEx president Prapan Charoenprawatt said that MMM23 will be listed and start trading on LiVEx.

MMM23 offers consulting on property sales, marketing and management to the developers of all kinds of residential property projects. It also acquires second hand property projects including single detached houses, townhomes and condominiums to refurbish for sales. The company’s main clients are property developers and buyers.

MMM23 has a paid-up capital of 118 million baht, consisting of 115 million existing common shares and three million newly issued shares, with a par value of 1 baht each. It offered 2.75 million newly issued shares to investors as specified by the Securities and Exchange Commission (SEC) and 0.25 million newly issued shares to its directors, executives and employees on December 12, 2023, at 8.50 baht each, for a total of 25.50 million baht in capital raised. Pioneer Advisory Co., Ltd. is the financial adviser and CGS-CIMB Securities (Thailand) Co., Ltd. is the lead underwriter.

MMM23 chief executive officer Nicha Rojwattana said that the company is determined to be a leading consultancy on property sales, marketing and management. The company provides a new business model for small and medium-sized property operators with marketing and sales support so that they can achieve their targeted sales. Proceeds from the fundraising will be used as working capital, for example, to pay deposits, acquire properties for sales, employ more personnel, and prepare for its future listing on Market for Alternative Investment (mai).

MMM23’s major shareholders after the IPO are MM Capital Holding Co., Ltd. (84.7 %), Suriya Wongsitthichaikul (6.4 %) and Nicha Rojwattana (6.4 %).