IND Extends the Gain by 12% following a 170% Spike on the First Trading Day Yesterday

“IND” continued the rally, gaining ฿0.36/share or 12.08% to ฿3.34/share with a trading value of 725 million baht, “CEO” targets a revenue of 700-900 million baht next year, growing 15-25%YoY. Meanwhile the Company’s backlog is 530 million baht, expecting to further join more bidding. 

 

The share debuted its first trading day yesterday from an IPO of ฿1.10/share and closed at ฿2.98/share, representing a gain of 170.91% with a total trading value of 2,808 million baht.

 

Dr. Chainarong Na Lamphun, Chief Executive Officer of Index International Group Public Company Limited (IND), stated that the successful first trading day of IND was very delightful and the Company would like to express its gratitude to all subscribers, affirming the business fundamental is solid as IND has expertise in this field for 37 years. IND targets a 2021 revenue of 700-900 million baht, increasing 15-25%YoY, as there was no delay on the fiscal 2021 approval and a success in fighting Covid-19 despite cases surge, along with Company’s resilience. 

 

In the matters of Eastern Economic Corridor (EEC) project, in November, 2020, IND has signed a contract for the design and construction of a runway at U-Tapao Pattaya International Airport worth 27 million baht. IND expects to acquire more projects in the future, particularly from Bangkok Aviation Fuel Services Pcl. (BAFS) and PTT Public Company Limited (PTT) that will submit the bidding for the projects such as fuel pipeline transportation and pipeline development on January 8, 2021.

 

Currently, IND’s backlog is 530 million baht which has yet to recognize the new projects from 4Q20 onwards.