Aurora set for major expansion after SET debut, first for jewel retail biz

Tuesday, 29 November 2022, 19:00 HKT/SGT

BANGKOK, Nov 29, 2022 - (ACN Newswire) - Aurora Design PCL (SET: AURA), one of Thailand's leaders in gold jewelry retail business, diamond jewelry and gems, is going ahead with its planned expansion after being listed on the Stock Exchange of Thailand (SET).

With the kick-off of its shares on the Thai bourse today (29 Nov), AURA will proceed to add 143 outlets and expand the consignment business under the brand of 'Thong Ma Ngern Pai' (gold comes, money goes).

Aniwat Srirungthum, Chief Executive Officer of AURA, said the company is aiming at raising its retail network nationwide to 409 in 2024 from 266 at the end of last September 2022.

The new stores will cover greater areas of Bangkok and its vicinity, as well as cities and communities to increase access to customers in additional potential areas across the country, he added.

Meanwhile, AURA has set its sights on strengthening its consignment business - whereby AURA sells gold jewelry retail, diamond jewelry and gems on behalf of the owner - to 3,846 million baht in 2024.

AURA has shown its potential as the first Thai stock engaged in the gold jewelry retailing business, focussing on developing and introducing new products and brands to create variety, and proactively enhancing online platform services to reach customers of all genders and ages on its pathway to become the leader of gold jewellery retailer in Thailand.

Mr Aniwat said: "We aim to create diversity and a brand that is different from competitors through product innovation and new brands to meet the needs of all kinds of customers, and providing a seamless shopping experience, expanding sales channels, both online and offline while enhancing service by developing new applications to promote sales and creating maximum customer satisfaction.

"These efforts will ensure sustainable growth for the company."

Pongsak Phrukpaisal, Managing Director of Kasikorn Securities PCL which serves as financial adviser and underwriter of AURA, noted that the company deals with a comprehensive range of gold, diamond and gem jewellery, and leveraging on technology to drive product innovation and new brands.

The company is also able to accommodate customers' needs on every occasion while pursuing the consignment business of gold ornaments - a business with potential growth in the future.

Because AURA is the first stock involved in the complete gold jewelry retail business diamond jewelry and gems business on the SET, there has been an enthusiastic response from institutional and retail investors during the past initial public offering (IPO) subscription period.

"Clearly this is due to the fact the company possesses a robust business background and opportunities for future growth," Mr. Pongsak concluded.

Note: Investments involve risks. Investors should understand the characteristics of the product, return conditions and risks before investing.

See https://www.aurora.co.th [SET: AURA].
Released for Aurora Design PCL by MT Multimedia Co Ltd
Thiyaporn Sriadunphan (Dah), T: +66 (0) 87 556 6974, E: thiyaporn.s@mtmultimedia.com

Topic: IPO
Source: Aurora Design PCL
Sectors: Funds & Equities, Watches & Jewelry
https://www.acnnewswire.com
From the Asia Corporate News Network