Bangkok: BKA shares opened their first trading day at 2.40 baht, marking a 33.33% increase from the IPO price of 1.80 baht. Mr. Prapan Charoenprawat, Manager of the Market for Alternative Investment (mai), and Mr. Patchara Thanawongkasem, CEO of Bangkok Asset Intergroup Public Company Limited, attended the opening ceremony of trading on the Market for Alternative Investment (mai). The company, listed under the abbreviation ‘BKA’, is part of the Real Estate and Construction Industry Group.
According to Thai News Agency, Mr. Patchara explained that Bangkok Asset Intergroup PCL specializes in buying and selling renovated second-hand houses. The company’s business model includes flipping houses, a real estate brokerage, and purchasing second-hand houses for renovation and sale. This makes BKA the first company on the Stock Exchange of Thailand with this business model, establishing its leadership in the second-hand house industry.
The capital raised through the IPO will be used to expand BKA’s portfolio, focusing on second-hand houses with growth potential from financial institutions and asset management companies. The company aims to increase its presence in inner Bangkok, targeting newly decorated single houses priced between 5-10 million baht, which are in high demand due to their financial stability.
Furthermore, BKA plans to use the funds to develop its Property Technology (Prop Tech) business. This includes creating a platform for real estate transactions using artificial intelligence (AI) and virtual reality (VR) technologies. These advancements will enhance the efficiency of property searches and provide virtual tours, paving the way for future growth.
Mr. Patchara emphasized that BKA’s business model differs from traditional real estate by focusing on renovating and selling houses, rather than investing in land and construction. This approach allows the company to achieve higher returns and margins compared to conventional real estate development.