Bangkok--Mar 29--Weber Shandwick
NC Housing's 200 million shares will commence trading on the Stock Exchange of Thailand on March 29th, said Mr.Somchao Tanthaterdtham, Managing Director of NC Housing Plc.
SICCO Advisory is the company's financial adviser, with SBC Securities Co., Ltd and SICCO (Plc) Co., Ltd. as co-lead underwriters.
"Though the stock market can be hard to predict, we have no concerns regarding the first day of trading. So far, we have launched 24 housing projects worth 13,000 million baht. We also plan further low-risk develop of approximately 500 rai of our land bank as well as aiming to launch four new projects worth 2,000 million baht next year. Our company policy puts a premium on professional managed and we are optimistic that the share price will close higher than the initial offer price on the first day, " said Mr. Somchao.
"NC Housing's IPO shares look set to be well received by Thai and foreign financial institutions and other major investors, being over-subscribed 8 times. We also anticipate a strong response on the first trading day from retail investors. The PE ratio (Price/Earnings ratio) for NC Housing's shares is 9 times, approximately 10-12 times lower than those of stocks currently in the real estate section," said Mr. Pongsakorn Thiangtham, Managing Director of SICCO Advisory Co., Ltd.
NC Housing Plc. is Thailand's first housing firm to receive ISO 9002 certification. Mr. Numchai Tanthaterdtham, who has more than 30 years experience in real estate development, established the company a decade ago in February 1994. NC Housing's "Baan Fah" projects are among the leading real estate developments in northern Bangkok. Presently the company has three operating subsidiary companies: NC Property Management Co., Ltd., Quality Living Management Co., Ltd., and NC Estate Co., Ltd.
For more information:
please contact
Ms. Sujira Wirojana
Weber Shandwick
Tel: 02 257-0300 ext. 331
Fax: 02 2570311
E-mail:
[email protected] End.
-NT-