CMC Slumps 21% on the First Trading Day, “Vichien” Asserts ฿10bln. Project to Come
CMC plunges 21.33% on its first trading day, but Mr. Vichien Paetthayanan still strongly believe the company has a solid structure with more potential to grow.
It has been a rough start of Chaoprayamahanakorn Public Company Limited (CMC) on its first trading day to close at ฿2.36/share, plunged 0.64 points or 21.33% from its ฿3.00/share IPO with ฿630 million in total value.
Mr. Vichien Paetthayanan, chief executive officer and director, asserts that the company has a strong structure with more 10 projects with the investment of 10 billion to come, while its financial statement also shows how strong the company is.
In the first 9 months of 2018, the company earned ฿1,502 million in estate selling, up 42% YoY, and also recorded ฿186 million of net profit, increased 165% YoY. This has caused CMC’s gross profit margin to raise insignificantly from 5.83% to 10.03%
