Index Living Mall Public Company Limited (ILM), Thailand's leading integrated retailer of home furnishings, has set the initial public offering (IPO) of the Company's shares at 22 baht per share - the highest price offering as indicated during the book-building exercise. The Company has appointed Bualuang Securities Plc. as lead underwriter and warrantor of sale of ordinary shares, and Asia Plus Securities Co., Ltd., Capital Nomura Securities Plc. and SCB Securities Co., Ltd. as underwriters and warrantors of sale of ordinary shares. Meanwhile, the executives of Index Living Mall expressed the Company's readiness to launch additional branches to support the growth of the urban population who fuel the growing demand for home furnishing products.
On July 15, 2019, Index Living Mall Plc. (ILM) signed the agreements to appoint Bualuang Securities Plc. as lead underwriter and warrantor of sale of ordinary shares, and Asia Plus Securities Co., Ltd., Capital Nomura Securities Plc. and SCB Securities Co., Ltd. as underwriters and warrantors of sale of ordinary shares.
Miss Kridchanok Patamasatayasonthi, Managing Director of Index Living Mall Plc. (ILM), Thailand's leading integrated retailer of home furnishings, said, "Index Living Mall has a set goal to create highest customer satisfaction and support everyone to enjoy the perfect life through the fulfilment of all housing and living needs in design, function, quality and price that are reachable to all people under the vision ‘To Be the Top of Mind Home Furnishings Store in Asia'."
By raising capital in the Stock Exchange of Thailand (SET), the Company will gain higher capability to operate and to increase the business competitiveness in the field of home furnishings that fulfill the lifestyle demands of the new generation. This is possible through the offering of merchandise and services that are at the cutting edge of innovative designs and the production process with strict quality control to meet the needs of the customers with individualistic identities and fully compatible with all types of housing developments. These are available through the Company's own retail channels, projects, sales representatives, international online sales, OEM and franchises in foreign countries.
Index Living Mall Plc. is a leader in the retail home furnishing business offering separate identities with four main brands in Thailand to cover every strata of customers, namely, Index Living Mall, Trend Design, Bo Concept and MOMENTOUS. All brands carry the entire scope of merchandise from furniture, home decorations, utensils and electrical appliances under a wide range of brands. Therefore, the Company can fulfill the needs of every group of customers for the highest level of satisfaction.
Mr. Eakalak Patamasatayasonthi, Senior Vice President - Business Development of Index Living Mall Plc. (ILM), reiterated that at present the Company has 36 branches of Index Living Malls and Index Furniture Centers covering 21 provinces in Thailand, and is a landlord offering and renting out retail spaces under the brands The Walk, Little Walk and Index Mall with nine branches. The advantage of having the presence of brand-name retail shops with highly recognized brand awareness is to attract customers to visit furniture retail area while creating strong synergy with the main business of Index Living Mall Plc. on which to grow sustainably.
In 2017, Index Living Mall Plc. launched a new innovation in the form of "Younique Customized Furniture 4.0" to offer furniture items with the service for customers who need to adjust the dimensions and design personally and freely within a set budget under the "Fit all areas, fulfill all functions, especially for you" concept. The Company utilizes modern technology to help design and adjust the furniture pieces to match the customers' demand. At the same time, Index Living Mall Plc. has a plan to invest in expanding the production capacity by importing modern and efficient machinery with the emphasis on automation to reduce cost, improve standards and increase production precision - in order to increase competitiveness and support demand for the "Younique" brand.
Mr. Pichet Sithi-Amnuai, President of Bualuang Securities Public Company Limited, in the capacity of financial advisor and lead underwriter and warrantor of sale of ordinary shares, said that after the book-building exercise to assess the demand for Index Living Mall Plc. (ILM)'s IPO on July 12th, the response has been excellent and the institutional investors showed interest to buy ILM's IPO shares 8 times over booking at maximum 22 baht per share more than the number of shares allocated. This is a true reflection of the confidence in the business fundamentals and the opportunities for future growth. Therefore, the IPO share price has been set at 22 baht per share which is the highest price during the offers. The IPO will take place on July 17-19, while the ILM shares will begin the public debut at the SET on July 26.
At present, Index Living Mall Plc. has a registered capital of 2,525 million baht, divided into 505 ordinary shares with a par price of 5 baht per share. The fully paid-up capital of 2,000 million baht is divided into 400 ordinary shares, and not more than 105 shares to be offered at IPO. This is equivalent to 20.8 percent of the Company's fully paid-up capital following this offer for sale of ordinary shares.
Index Living Mall Plc. will use the capital realized from this public offering to open more Index Living Mall branches in locations with high potentials. In 2019-2020, three new branches will be opened in Chanthaburi Province, Sukhapiban 3 and Ramintra. At the same time, "Younique" tailored-to-order furniture products in the Index Living Malls will be expanded to cater to more customers, along with expansion of investment in "COCO" small furniture stores. Also, on the agenda is the plan to install rooftop solar panels at the factories, improve factory efficiency and other investment plans, such as the renovation of some Index Living Malls, IT system development and others. A portion will be allocated to repay loans to financial institutions and for working capital.