Mr. Lek Sikorn Witthaya President Asia Plus Advisory Company Limited, as financial advisor on listing on mai market of Infraset Public Company Limited (INSET), revealed that INSET is a new brand that has received a good response from students. invest Aside from being stocks with strong fundamentals Future business operations have high growth opportunities in line with the information technology and telecommunications industry.
In addition, setting IPO prices at an appropriate level The IPO price of 2.69 baht has a P / E of 13.70 times, which is lower than the P / E. Of companies in the stock market that have similar businesses at a level of 16 times. When comparing the analysis with an appropriate valuation based on the basis of approximately 3.10-3.68 baht, IPO prices are still at an attractive discount Also, in the past share allocation Found that many institutional and retail investors expressed interest in investing Despite being a small stock, it has outstanding growth potential in the future.
In this regard, INSET offers 146 million new shares to the public (IPO), with a par value of 0.50 baht per share, representing 26.1% of the total shares. And after the offering of shares in the Pukkanasut family Will hold 49.21% shares, with the company having registered capital after IPO in the amount of 280 million baht, representing a total of 560 million shares
Mr. Sak Bowonpukkanasasut, Managing Director INFRASET PCL. It is confident that the INSET shares that are scheduled to be traded on the mai on October 8 will create a good impression on shareholders and investors. Since it is a company with strong fundamentals Together with the trend of telecommunication infrastructure industry which has a remarkable growth every year due to the government support And the change of communication technology from 4G to 5G. In the past, the company has delivered work on time. And can always perform better than the customer expects
For INSET, it is considered as a telecommunications infrastructure operator. Which is the only fully integrated operation on the mai stock market, and in the past able to maintain growth of 10-20% per year. Currently, the company has backlog of more than 2.7 billion baht by Will gradually be recognized over the next 3 years from now consisting of the project to bring communication cables into the ground Bangkok and maintenance work for the project to provide high-speed internet in remote areas (Zone C) or USO in both Phase 1 and 2 etc.
"The trend of the telecommunications infrastructure industry in the next 4-5 years is believed to be an increase in the number of jobs Because it is a preparation for new technology changes While the government wants to push the network system To spread prosperity throughout the country This will enable the company to receive ongoing work to help support the business's growth as planned. "
For the overall performance of the first half of the year 2019, the company had total revenue at 577.69 million baht, net profit at 46.57 million baht and net profit margin at 8.06%, while the main revenue structure comes from business Construction of data centers and information technology systems 88% Infrastructure and telecommunications network businesses 10% Maintenance and other services 2% The company aims to increase the proportion of The maintenance and services, reaching 10% due to the regular income Recurring income or to support the company has grown steadily.
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