Bangkok--10 Sep--SET
Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, will list CCN-Tech pcl on September 11, under the ticker symbol “CCN”. The company has a market capitalization at its initial public offering (IPO) of THB 287.5 million (approx. 8.9 million).
mai President Prapan Charoenprawatt said that CCN, the tenth new listing on mai this year, provides and distributes IT and system integration services, system consultant, design, installation, training, maintenance, and printer and computer leasing service. CCN has a paid-up registered capital of THB 115 million, consisting of 170 million existing common shares and 60 million newly-issued shares, with a par value of THB 0.50. It sold the new shares to the general public via initial public offerings (IPOs) at THB 1.25 during September 2-4 for the total of THB 75 million. Country Group Securities pcl is its financial advisor and lead underwriter.
Virat Anurakputti, CCN's managing director, said that the company was very delightful to list its shares on mai. The listing would help enhance the company’s image, financial strength, and business opportunities. Proceeds of the fundraising would be used for working capital to ensure financial flexibility and business expansions, resulting in strong and sustainable earnings growth eventually.
CCN's three major shareholders after the IPOs are Virat Anurakputti (22.58 percent), Apisit Honglawan (17.89 percent), and Dullapak Pengpanpat (16.81 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 14.08 times, calculated by using the company's net profit in the last four quarters (Q3/2013 – Q2/2014) divided by fully diluted shares, representing earnings per share of THB 0.089. CCN's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on CCN, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.ccn-tech.co.th as well as www.mai.or.th .