Bangkok--23 May--MT Multimedia
Netbay, a leading developer of integrated e-logistics trading and e-business service solutions for Thailand's digital economy, is ready to make an IPO of 40 million shares, and expects to have the shares listed on the MAI this June, with Maybank Kim Eng (Thailand) acting as Financial Advisor and Underwriter. Its management highlighted great experience of its team and its position as Thailand's first firm to provide a 'software as a service' (or 'SaaS') platform to respond to business needs, facilitate and speed up business processes and reduce red tapes and costs associated with e-commerce. They expressed confidence of strong and sustainable business growth.
Mr Montree Sornpaisarn, Co-Chief Executive Officer, Maybank Kim Eng (Thailand) Plc, as Financial Advisor and Underwriter, revealed that the Securities Exchange Commission (SEC) has approved the filing made by Netbay PCL for an initial public offering (IPO) of 40 million ordinary shares, which will represent 20% of its authorised and paid up capital after the IPO.
Netbay's current registered capital stands at THB 200 million, divided into 200 ordinary shares with par value at THB 1 each, and paid up at THB 160 million. The IPO will increase the number of shares by 40 million, and the funds raised will be used to finance business expansion and as working capital.
Netbay is a leading developer of integrated software, e-logistics trading and e-business service solutions for Thailand's digital economy, serving through private cloud computing on a 24-hour basis as the single business information gateway for business-to-government (B2G), business-to-business (B2B) and business-to-customer (B2C) transactions.
Mr Pichit Viwatrujirapong, Netbay's Chief Executive Officer, said that the Company has been in business for more than a decade, developing a comprehensive range of e-logistics trading and e-business service software and solutions for all parties at the upstream (customers), midstream (gateway) and downstream (organisations with which customers exchange transaction data) levels, and providing an omni-channel connectivity gateway that covers data processing and backup, operating systems for data exchange, data networking and security systems, which facilitate and enhance the speed of customers' business processes and reduce red tapes and the costs associated with electronic, paperless data exchange.
Unlike many other ICT firms, which are either software integrators or software houses, Netbay is a local pioneer in 'software as a service', or SaaS, market, offering software online on a "better, faster, cheaper" basis. Allowing customers to eliminate the high costs of software acquisition and avoid royalty and annual fee payments, as well as facilitating and speeding up data exchange through its online, paperless system and enabling them to control costs effectively through its use-based or monthly payment plan, the products generate decent, constant revenue streams for the Company. To win more customer confidence in the products, it also places great importance on privacy, service integrity and security, market and technology development and cost reduction.
Netbay currently has three core business segments: (i) e-logistics trading, which involves paperless, electronic data exchange in connection with goods and transport (both domestic and cross-border), e.g. e-commerce document/data exchange, customs clearance data exchange, etc.; (ii) e-business services, which involve reporting of customers' transactions with financial institutions; and (iii) projects and others, i.e. development of internal information technology systems for organisations.
"We believe that, with the policies of both public and private organisations to adopt online/paperless data exchange systems and the government's ambition to develop a digital economy to enhance the country's competitiveness, our businesses will generate strong regular revenues in the long run and will grow through expansion of our network to cover new business areas and increase the number of users of online transaction services", noted he.