Mr. Peerapong Jaroon-ek, Chief Executive Officer of Origin Property Plc. (ORI), said that the Board of Directors Meeting No. 5/22, held on July 7, 65, had Approved the plan for the issuance and offering of newly issued ordinary shares of Primo Service Solution Public Company Limited (PRI which is a subsidiary of the Company holding 100% of the paid-up capital Initial public offering (IPO) and listing PRI on the Stock Exchange of Thailand (Spin-Off Plan). First time (IPO) to the Securities and Exchange Commission It was completed on 27 July ago.
The issuance and offering of newly issued ordinary shares of the PRI to the general public. As a result, the Company’s shareholding in PRI has decreased from 100% to not less than 75% of the paid-up capital after the initial public offering. (Under the assumption that there is a subscription for the newly issued ordinary shares) whereby PRI will continue to be a subsidiary of the Company.
The approval of PRI’s spin-off plan is the implementation of the Origin Multiverse roadmap, which aims to provide subsidiaries with flexibility in doing business. can branch off to have its own path of growth in the universe as well as increase the ability to compete
PRI operates business by holding shares in other companies (Holding Company) that operate services related to real estate for real estate customers. and comprehensive customer groups Covering services in various groups such as consulting and engineering design business groups. Property Management Business Group Real estate after-sales service business group in 2021 has revenue and net profit of 489.56 million baht and 111.25 million baht, respectively, an increase from 2020, which is 266.51 million baht and 40.05 million baht, respectively.
The services under PRI’s affiliates are services that cover both B2B and B2C markets, responding to every rhythm of life. Providing a one-stop service that reaches and understands consumers’ insights, the company sees growth opportunities through fundraising. Increase the opportunity of PRI to invest in business expansion which is another way to make the business grow or expanding rapidly Increase competitiveness and proactive business expansion To create opportunities for normal growth of the business (Organic Growth) and Inorganic Growth, as well as continue to invest and develop in technology that can help in the service. This will be the future of service and modern living.
“This spin-off plan to list PRI on the SET will enhance the reputation and image of Primo Service Solutions. as well as increasing the opportunity to access additional funding sources To extend the vision of Total Life Service Solution to facilitate the search for business partners to strengthen. to cover the needs of consumers even more as well as to drive the company’s performance to have good prospects and create long-term stability.” Mr Peerapong said
By InfoQuest News Agency (02 Aug 65)
Tags: ORI, Peerapong Jaroon-ek, Thai stocks, Origin Property