WFX Makes Its Debut on SET Index with a 25% Gain in Share Price

World Flex Public Company Limited (SET: WFX) debuted on the Stock Exchange of Thailand under the Fashion Sector with a 25% gain in its share price, outperforming its IPO price.

WFX’s share price increased by THB1.80/share, or 25.00%, to THB9.00/share during Thursday’s morning session, December 23, 2021, with a trading value of THB2,081 million.

Trinity Securities values WFX at 11.34 baht at the end of 2022, using the 17x P/E approach, which is the three-year average of the fashion industry (SETFASH Index). Revenue and profit are expected to increase gradually over the next few years. The CAGR for 2020-2023 is anticipated to be 20.0% per year, with a CAGR of 79.1% annually, implying that the business is increasing at a faster rate than revenue growth.

WFX is a manufacturer and distributor of powder-coated rubber thread and silicone-coated rubber thread which are used as components in the production of various types of finished goods such as garments, apparel, socks, underwear, medical equipment, furniture, etc.