Bangkok--7 Aug--SET
The Stock Exchange of Thailand (SET) will list Com7 pcl, one of the largest IT store chain in Thailand under the brand, “Banana IT”, on August 10, under the ticker symbol “COM7". The company has a market capitalization at its initial public offering (IPO) of THB 4.02 billion (approximately USD 118 million).
SET Executive Vice President Santi Kiranand said that COM7 would list on SET in Services industry, Commerce sector. Considering the number of stores with 317 branches in 55 provinces nationwide, COM7 was the largest IT store chain in Thailand. The company operated Banana IT and Banana Mobile shops, selling IT related-products covering computers, mobile phones, tablets and accessories, as well as being a reseller for “Apple” products via iStudio, iBeat, U-Store by Comseven as well as providing after-sales services via iCare Services Centers.
Com7 has a paid-up registered capital of THB 300 million, consisting of 900 million existing common shares and 300 million newly issued shares, with a par value of THB 0.25 each. It offered newly issued shares via IPO at THB 3.35 each, for a total of THB 1,005 million, during July 31 and August 3-4, 2015. Asia Plus Advisory Co., Ltd. is the financial advisor while Asia Plus Securities pcl is its underwriter.
COM7 Chief Executive Officer Sura Khanittaweekul said that the fund raised would be for branch expansion, debt repayment and working capital so as to strengthen financial capabilities, reaching wider target market and responding to business growth, in order to maintain its leadership position.
COM7’s three major shareholders after IPO are Sura Khanittaweekul (59.63 percent), Buncha Phantumkomol(23.45 percent) and Aree Preechanukul (7.84 percent). The IPO price was equivalent to price-to-earnings ratio (P/E) of 17.82 times, calculated by using the net profit in the past 12 months (from April 1, 2014 to March 31, 2015), divided by the number of fully-diluted shares, representing earnings per share of THB 0.188. COM7’s dividend payment policy is to pay no less than 40 percent of net profit after taxes and reserves.
For more information on COM7, 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.comseven.com, as well as www.set.or.th .