SET welcomes IT product retailer and wholesaler “ADVICE”

Editorial staff
SET / IPO

SET welcomes IT product retailer and wholesaler “ADVICE”

The Stock Exchange of Thailand will list Advice IT Infinite Plc, an end-to-end IT product distributor and aftersales service provider, on January 31, 2024 under the ticker symbol “ADVICE”.

The company has a market capitalization at its initial public offering (IPO) of 2.01 billion baht (US$ approx. 56.21 million).

SET senior executive vice president Manpong Senanarong said that ADVICE will be listed and start trading on SET in the Services industry group, commerce sector.

Manpong Senanarong

ADVICE is one of Thailand’s large-scale IT product retailer and wholesaler. The company operates stores under “Advice” brand in IT superstores, offering a wide range of IT products which cover general IT products and products for target groups of customers such as devices for gamers, streamers, YouTubers and creators. Digital lifestyle and Internet of Things (IoT) products as well as smartphones and home appliances are also available. ADVICE’s products are sold at 338 outlets nationwide and online channels. It also provides comprehensive after-sales services concerning product claims, repair and checks for IT devices.

After the IPO, ADVICE has a paid-up capital of 310 million baht consisting of 450 million existing common shares and 170 million newly issued shares, with a par value of 0.50 baht each. It offered the newly issued shares to the general public during January 22-24, 2024, at a price of 3.24 baht each. The IPO price is equivalent to the price-to-earnings ratio (P/E ratio) of 7.26 times. KGI Securities (Thailand) pcl is the financial adviser and Asia Plus Securities Co is the lead underwriter.

ADVICE chief executive officer Nath Natthanithikarat said the company is delighted to be listed on SET and the listing will be an important stepping stone to significantly increase business expansion opportunities.

The company is highly confident that the strong capital, resulting from this fundraising and a listed company status with good corporate governance will enable the company to grow steadily and sustainably. The proceeds arising from the fundraising will be used to open new outlets, modernize existing stores, repay financial institutions’ loans, support its working capital for product procurement and improve its IT systems.

ADVICE’s dividend policy is to pay at least 40 % of net profit from its special financial statements after all reserves required by law and its annual regulations. However, dividend payment is subject to change, depending on suitability and operation plans in the future as deemed appropriate by the company’s board of directors and/or shareholders.

ADVICE’s major shareholders after the IPO are Thai Joint Venture Groups Co(25.8 %), Nath Natthanithikarat (25.2 %) and Amorn Thathong (9.9 %). Their shareholdings totally account for 60.9 % of the paid-up capital.