mai welcomes listing of real estate agency service provider "MMM" on November 7

MMM is a real estate agency specializing in the sales of all types of residential properties for project owners, covering detached houses, duplexes, townhomes, and condominiums, etc. Notably, the company also provides marketing and sales strategy planning services through a network of independent brokers. In addition, the company also operates a second-hand residential property trading business after the renovation, recondition and embellishment process before reselling these properties. The company channels sales via a network of 361 registered independent agents. As of June 30, 2025, the company recorded a total of 29 projects in operation including those undergoing sales process, totaling 808 units. For the first six months of 2025, the company's revenue breakdown was as follows: project sales consulting as non-guaranteed sales (37 percent), project sales management as guaranteed sales (56 percent), and real estate trading (7 percent).

MMM Chief Executive Officer Nicha Rojwattana stated that one of the corporate strategies is to highlight the sales strategy based on a network of independent brokers, using a margin-based commission structure calculated from the difference between the independent brokerage wholesale price set by MMM and the property selling price. As such, the independent brokers will offer sales prices to buyers within the standard selling price range set by MMM and the project owner. Consequently, independent brokers can tailor various promotions to the needs of individual buyers, effectively increasing the chance of closing sales. The fundraising will be used (as deposit) for real estate contracts, for properties purchase, and as working capital to drive business expansion.

Securities offering data: MMM has a paid-up capital of THB 150.00 million (approximately USD 4.60 million) after the PO, with a par value of THB 0.50 per share. The company offered 247.8 million existing shares and 52.20 million newly issued ordinary shares, combining with the 12.00 million existing shares owned by Natcha Holding Co., Ltd. to subscribers at the underwriters' discretion and institutional investors (totaling no less than 54.57 million shares), including patrons of the company (totaling not over 9.63 million shares), during October 28-30, 2025 at THB 5.50 per share. This offering generates a total fundraising value of THB 287.10 million, offering value of THB 353.10 million, with an PO market capitalization of THB 1,650.00 million. The PO valuation reflects the price-to-earnings (P/E) ratio of 13.41 times with the earnings per share of THB 0.41, calculated from the company's trailing four-quarter net profit (from July 1, 2024 to June 30, 2025) of THB 122.30 million, divided by fully diluted shares. Pioneer Advisory Company Limited is the financial advisor, and KGI Securities (Thailand) pcl is the lead underwriter.

MMM's major shareholder after the PO is the group of Nicha Rojwattana and Suriya Wongsitthichaikul (spouse) combined (73.33 percent). The company's dividend payment policy is to pay shareholders no less than 40% of net profit according to the company's financial statements after corporate income tax and all types of legally mandated reserves, and as specified in the company's articles of association.

Investors and interested public can view the company's prospectus via the Securities and Exchange Commission (SEC)'s website at www.sec.or.th, and general information via www.mmmcapitalplc.com and www.set.or.th.

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