Bangkok--13 Sep--SET
Market for Alternative Investment (mai) will list Interlink Telecom pcl, a fiber optic network provider, on September 14, under the ticker symbol "ITEL". The company has a market capitalization at its initial public offering (IPO) of THB 2.6 billion (approximately USD 74 million).
The Stock Exchange of Thailand Senior Executive Vice President Santi Kiranand said that ITEL would list and start trading on mai in the Technology industry group. ITEL, a subsidiary of SET-listed firmInterlink Communication pcl (ILINK), was a fiber optic network provider. The company's services included telecommunications network installation and data center for enterprises. Its services covered 75 provinces nationwide, and also in partnership with network in such ASEAN countries as Singapore, Malaysia, Cambodia, Myanmar, Vietnam and Laos.
ITEL has a paid-up registered capital of THB 500 million, consisting of 300 million existing common shares and 200 million newly issued shares, with a par value of THB 1.00 each. During August 31-September 2, 2016 it offered not more than 60 million newly issued shares to ILINK's shareholders according to their pre-emptive rights, and offered 140 million shares to the general public via IPO during September 7-9, 2016, at THB 5.20 each, for a total of THB 1.04 billion. Finansia Syrus Securities pcl is the financial advisor and the underwriter.
ITEL Managing Director Nuttanai Anuntarumporn said ITEL was committed to delivering effectivetelecommunication network, responding to customer needs by constantly developed its network efficiency. This listing would strengthen ITEL's credibility and financial capabilities to enhance ITEL's business opportunity. The fund raised would be used to develop and expand its network, and invest in a joint-venture to build a data center, as well as for debt repayment and working capital.
ITEL's three major shareholders after the IPO are Anuntarumporn Group (66.31 percent), Ngam-apichon Group(2.80 percent) and Sakchaicharoenkul Group (1.71 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 49.83 times calculated by using the company's net profit in the past four quarters (July 1, 2015 – June 30, 2016) of THB 52.18 million, divided by fully diluted shares, representing earnings per share of THB 0.10. ITEL's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on ITEL, 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.interlinktelecom.co.th, as well as www.set.or.th.
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