Bangkok--15 Jun--SET
Market for Alternative Investment (mai) will list Netbay pcl, an e-business service provider, on June 16, under the ticker symbol "NETBAY". The company has a market capitalization at its initial public offering (IPO) of THB 800 million (approximately USD 22.54 million).
mai President Prapan Charoenprawatt said that NETBAY would list and start trading on mai in the Technology industry group on June 16, 2016. Serving various groups of customers from business-to-government (B2G), business-to-business (B2B) and business-to-customer (B2C), NETBAY, a software developer for e-business transactions, provided clients with the software called "Software as a Service"(SaaS). The company's e-business services covered 1) e-logistics trading, engaging e-customs services; 2) e-business services, providing reports of customers' transactions with financial institutes and customer due diligence services; 3) special projects, designing and developing an information system to satisfy client's specific requirements.
NETBAY has a paid-up registered capital of THB 200 million, consisting of 160 million existing common shares and 40 million newly issued shares, with a par value of THB 1.00 each. During June 8-10, it offered newly issued shares to the general public via IPO, at THB 4.00 each, for a total of THB 160 million. Maybank Kim Eng Securities (Thailand) pcl is the financial advisor and underwriter.
NETBAY Chief Executive Officer Pichit Viwatrujirapong said under the "Better, Faster and Cheaper" concept, NETBAY focused on innovation, technology and business platform development which were keys to logistics excellence, while being customer centric. Thus, customers could acquire information technology services at an affordable price and could accelerate service speed by online transaction. The fund raised would be used for working capital. This listing would build up customer confidence and strengthen capital base to serve business growth in the future.
NETBAY's three major shareholders after the IPO are Pichit Viwatrujirapong (60.00 percent), Internet Thailand pcl(20.00 percent) and Rasita Jaraphichitchai (0.50 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 11.76 times calculated by using the company's net profit in the past four quarters (April 1, 2015-March 31, 2016) at THB 67.82 million, divided by fully diluted shares, representing earnings per share of THB 0.34. NETBAY's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on NETBAY, 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.netbay.co.th , as well as www.set.or.th.