MOSHI opened for trading on the first day at 35.00 baht, an increase of 14.00 baht or +66.67% from the IPO price of 21.00 baht.
Globlex Securities stated in the analysis of Moshi Moshi Retail Corporation Plc (MOSHI) that the price is reasonable, consensus 27.00-31.10 baht.
MOSHI operates a retail business selling lifestyle products under the name “Moshi Moshi”. Most of the products are the company’s brand designed exclusively for Moshi Moshi stores. Currently, there are 12 product groups, including home appliances, stationery, bags, dolls, and accessories. use fashion, beauty accessories Apparel, cosmetics, IT equipment, toys, food and beverages, and more.
As of September 30, 2022, there are 101 branches in operation in 41 provinces, consisting of 1) 98 Moshi Moshi stores 2) 2 Moshi Moshi discount retail stores: Sampeng branch and Platinum branch. Fashion Mall and 3) GIANT discount retail stores, 1 branch
For the 9-month period of 2022, total income was 1,253 million baht +59%YoY due to SSSG +50%YoY and the number of new branches opened 6 branches. climb The baht depreciated once morest the yuan. and the proportion of revenue from discount retailers increased. with a net profit of 135 million baht +192%YoY
IPO price 21 baht or P/E equal to 28.66 times, close to the average of Commerce group at 29.88 times Paid-up capital following IPO 300 million baht Par 1 baht Securities value at IPO price 6,300 million baht Number of IPO shares 75 million shares to 25% of the issued and paid-up ordinary shares Divided into 60 million newly issued ordinary shares and 15 million ordinary shares held by the existing shareholder, Winnfield Capital Overseas Company Limited.
Raising funds for new branch expansion develop existing branches and future projects improve operational efficiency working capital and used to repay the loan