SINO opened trading on the first day at 1.60 baht, an increase of 0.20 baht or 14.29% from its IPO price of 1.40 baht.
Globelex Securities (participating dealer) stated in its analysis that Sino Logistics Corporation Public Company Limited (SINO) has a favorable price of 2.02 baht.
SINO, the number one shipping company on the Thai-US route, operates a company that provides international shipping management services, and divides its income into 4 types as follows: 1. Sea Freight Services 2. Air Freight Services 3. Warehouse Rental Services and 4. Service Support Services Logistics, where the percentage of its revenues in 2022 is 97.1%, 0.7%, 0.4%, and 1.4%, respectively, and the percentage of revenues from transporting goods to North America, Europe, and Asia is 78.1% (12.3%). and 6.9%, respectively
Revenue and net profit in 2020-2022 are 5,907-834 million baht and 23-691 million baht, respectively, representing a three-year average growth rate of 166% and 444% per year, respectively. Due to the situation related to the Coronavirus (COVID-19). This leads to increased demand for freight, which results in increased freight rates. In addition, a weak baht supported earnings growth. However, 1H66 revenues and profits contracted by 78% year-on-year and 91% year-on-year to 3,703 million baht and 830 million baht, respectively, after the COVID-19 situation eased. Caused by sea transportation. natural
Number of offering shares: 292 million shares, divided into 240 million new issued shares and 52,000,000 ordinary shares from existing shareholders. Financing value: 336 million baht. Value of securities at offering price: 1,456 million baht. The IPO price is a P/E of 6.9 times, which is low, and is 58 times higher than the industry average.
Fundraising for 1. Expand the service area to store containers. 2. Investing with business partners, whether within the country or ASEAN countries, and investing in related businesses, and 3. The company’s working capital. And to expand the business
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