Property developer Raimon Land’s burgeoning reputation in the real estate industry and its healthy financial status was recently recognized as the company’s shares entered the SET 100 Index for the first time on July 1.
The SET100 Index, one of the main benchmark investment indices on the SET, tracks and represents the movements of 100 stocks with top market capitalization, trading liquidity and free float.
Hubert Viriot, center, Chief Executive Officer of Raimon Land PLC, and Chief Operating Officer Kitti Tungsriwong, left, receive a congratulatory bouquet from Chanitr Charnchainarong, right, the Executive Vice President of the Issuer & Listing Division of the Stock Exchange of Thailand (SET).
Hubert Viriot, Chief Executive Officer of Raimon Land said: “Our entry in the SET100 Index reflects on our company’s comprehensive turnaround and good performance. Our stock has been one of the top 5 performing stocks on the Stock Exchange of Thailand in 2011 and early 2012.
“However, our share price is still fundamentally undervalued with forward valuation multiples at a significant discount to our listed peers in the real estate sector,” he added. “With this inclusion in the SET100 Index, we hope to be recognized as a mainstream stock on the Thai stock market, and that the gap between our share price and fair value will narrow.”