Advice IT Infinite Public Company Limited (ADVICE) is expected to make its first appearance in the Thai stock market by the end of this month under the Commerce sector in the SET Index to compete with COM7, SIS Distribution (Thailand), SVOA and Synex (Thailand).
Priced at THB 3.24 per share with PE ratio of 10 times, ADVICE provides retail and wholesale IT products, such as custom computers, laptops, desktop computers, and accessories, as well as products related to smartphones and in-house electrical appliances via branches and online shopping, and offer a complete after-sales service.
Mr. Nat Natthanithikarat, CEO of ADVICE, stated that the company’s IPO caught a lot of attention from the market. The shares offered to retail investors on the first day were overwhelmed with subscription and positive feedback, which reiterated investors’ confidence in the company. The company is considered a “BIG 4” of IT retailer stock in Thailand.
The proceeds from IPO will be utilized as follows: 1. Expand the company’s business by branching and improving the existing stores; 2. Pay borrowing debt to the financial institutions; 3. Use the fund as working capital for product procurement; and 4. Improve the IT system.
The CEO noted that he believed this was a step forward in supporting ADVICE to grow with sustainability, while exploring for new opportunities. He also assured investors that two of the major shareholders of 38% shareholding in the company are bound by a silent period for three months.
ADVICE eyes 10% revenue growth this year with an expectation to officially act as distributor of Apple’s products by this quarter. The average growth for the next three years will be higher than 10%.