Bangkok--30 Nov--SET
Market for Alternative Investment (mai) will list JKN Global Media pcl, a major content provider to license copyrighted content in Thailand, on November 30, under the ticker symbol "JKN". The company has a market capitalization at its initial public offering (IPO) of THB 4.32 billion (approx. USD 130.9 million).
mai President Prapan Charoenprawatt said that JKN would list and start trading on mai in the Services industry group. JKN provides copyrighted content distribution. The contents are purchased and imported from content producers overseas as well as local companies.
The business of the company and its subsidiaries consists of three parts, namely: content distribution and service, purchased and imported from leading producers; airtime media buying service to provide airtime slot for broadcasting via JKN Dramax Channel and digital TV operators; and product distribution business including home entertainment products such as DVD and Blu-ray as well as other products such as licensed T-Shirt of other projects.
JKN has a paid-up registered capital of THB 270 million, consisting of 400 million existing common shares and 140 million newly issued shares, with a par value of THB 0.50 each. It offered the entire newly issued shares to general public via IPO at THB 8.00 each, for a total of THB 1.12 billion, during November 22-24. KT ZMICO Securities Co., Ltd. is its financial advisor and lead underwriter.
JKN Chief Executive Officer Jakkaphong Jakrajutatip said that the company can serve all target groups including neighboring countries by using various copyrighted content catering to their needs. The fund raised will be used to expand JKN's copyrighted distributing services by producing the business and investment news programs under the brand of Consumer News and Business Channel (CNBC) to broadcast in JKN CNBC Channel under National Broadcasting Company Universal (NBC). It will also be used for loan and debenture repayment to financial institutions, and as working capital.
JKN's three major shareholders after the IPO are Jakrajutatip Family (71.85 percent), Krung Thai Asset Management Public Company Limited (3.52 percent) and MFC Asset Management Public Company Limited (1.81 percent). The IPO price was determined based on a book building process, equivalent to price-to-earnings (P/E) ratio of 21.05 times calculated by using the company's net profit in the past twelve months (October 1, 2016 - September 30, 2017) totaling THB 203.78 million divided by fully diluted shares, representing earnings per share of THB 0.38. JKN's dividend policy is to pay no less than 40 percent of net profit from the company's separate financial statements, after tax and legal reserves.
For more information, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.jknglobal.com , as well as www.set.or.th.