Bangkok--27 May--Media Planner Consultant
Villa Kunalai Public Company Limited or KUN, a real estate developer of the brand "Kunalai" has submitted filing and prospectus with the SEC as a preparation to list its shares on the mai with an IPO of 75 million shares and the par value at 1 baht per share. The capital raising is aimed for additional land purchase-business expansion in the future. S14 Advisory Co., Ltd. is appointed as its financial advisor.
Mrs. Piyapa Chongsathein, Managing Director of S14 Advisory Co., Ltd., as the financial advisor of Villa Kunalai Public Company Limited or KUN, the leader of horizontal property project development for commercial sales in Bangkok's perimeter, especially in Bang Bua Thong District, Nonthaburi Province, disclosed that Kunalai has submitted the Registration Statement and drafted prospectus (Filing) to the Securities and Exchange Commission (SEC) for approval of the Initial Public Offering (IPO) of 75 million shares with the par value at 1 baht per share, accounting for 25% of the total share capital of the Company, after the share issuance and the application submission of the share listing on the mai.
At present, the Company's registered capital of 300 million baht consists of 300 million common shares, and the paid-up capital of the Company is equal to 225 million baht. After the IPO, the Company's paid-up capital will be increased to 300 million baht.
The purpose of the capital raising is for business expansion of the Company through additional land purchase within the area of Bang Bua Thong District, Nonthaburi Province, and for working capital of future business expansion.
Mrs. Praweerat Dheva-Aksorn, Chief Executive Officer of Villa Kunalai Public Company Limited or KUN revealed that the Company operateshorizontal property project development business for commercial sales under the brand "Kunalai" following the 4 principles of property development, comfortability, appearance, reliability, and economy, with the concept "Spaces and Happiness are created at Kunalai". In addition, the projects developed by the group of companies are mainly situated in Bang Bua Thong District of Nonthaburi Province. The sales of the 4 projects are currently completed, another 5 projects are under operation, and another 3 projects are future projects.
"Kunalai operates horizontal property project development business for sales under the brands Kunalai Begins, Kunalai Pollen, Kunalai Symphony, and Kunalai Joy, while Villa Vanich Co., Ltd., a subsidiary of KUN, also operates horizontal property project development business for commercial sales focusing on Bangkok's perimeters, especially Bang Bua Thong District in Nonthaburi Province".
The Company applies its strengths in terms of accumulated know-how and reputation of successful residential city development in Nonthaburi Province to develop housing projects under the concept of "Happiness Living in Suburban Home" to expand its projects in 4 areas of surrounding Bangkok in order to strengthen the brand and to be number 1 horizontal property project developer for commercial sales within the perimeters which is in line with the Company's goals and vision.
Meanwhile, the Company has planned to launch another 3 new projects in the future worth totaling of approximately 2,823 million baht, namely, 1) Kunalai Joy on 314 Project, consisting of 2-storey semi-detached house and 2-storey detached house, has its project value of approximately 497 million baht and located in Chachoengsao Province. Initially, the construction is expected to start in Q2/2019 and the pre-sales is in Q3/2019; 2) Kunalai Begins 2, consisting of 2-storey townhome and 3-storey commercial building, has its project value of approximately 826 million baht and located in Bang Bua Thong District, Nonthaburi Province, of which the construction has already started since Q1/2019 and the pre-sales is in Q4/2019; 3) Kunalai Joy 2, consisting of 2-storey semi-detached house, has its project value of approximately 1,500 million baht and located in Bang Bua Thong District, Nonthaburi Province, of which the construction is expected to start in Q3/2020 and the pre-sales is in Q4/2020.
The financial results in the past 3 years from 2016 – 2018 of the group of companies reported the total revenue of 297.50 million baht, 450.38 million baht, and 447.09 million baht and the net profit of 5.94 million baht, 10.80 million baht, and million baht 11.56 million baht respectively. The growth of the total revenue came from the revenue from sales of property. In 2016, the group of companies reported the ownership transfer of the detached houses and semi-detached houses from 3 projects, Kunalai Proud, Kunalai Courtyard, and Kunalai Symphony. Moreover, in 2017, the Company had gradually transferred the ownership of the 3 housing projects, including the ownership transfer of the townhome project of Kunalai Begins, leading to an increase of the revenue from 2016. In 2018, the group of companies had gradually recorded the revenue from the ownership transfer of 4 housing projects and started to realize the revenue from the ownership transfer of new launched projects – Kunalai Pollen. Therefore, the growth direction of the Company shows its strong business capability and financial situation which will lead the Company to a sustainable growth in the future.