Bangkok--20 Dec--SET
Market for Alternative Investment (mai) will list Vintcom Technology pcl, an IT distributor and IT service provider, on December 21, under the ticker symbol "VCOM". The company has a market capitalization at its initial public offering (IPO) of THB 864 million (approx. USD 26.1 million).
mai President Prapan Charoenprawatt said that VCOM would list and start trading on mai in the Technology industry group. VCOM supplies the leading and internationally recognized IT product brands such as Oracle, Hitachi Data Systems and Palo Alto Networks. Its major customers are system integrators (SI) who install the products to corporate users. The company's subsidiary, Vintcom Technology (Myanmar) Co., Ltd., is engaged in installing, while providing advice and maintenance services related to computer system in Myanmar. Another subsidiary, vServe Plus Co, Ltd., is an IT service provider.
VCOM has a paid-up registered capital of THB 150 million, consisting of 220 million existing common shares and 80 million newly issued shares, with a par value of THB 0.50 each. It offered 68.6 million newly issued shares to general public via IPO and another 11.4 million newly issued shares to directors, executives and/or employees of the company and subsidiaries at THB 2.88 each, for a total of THB 230.4 million, during December 13-15. Advisory Plus Co., Ltd. is its financial advisor and KT Zmico Securities Co., Ltd. is the lead underwriter.
VCOM Chairman Narong Intanate said that the company has focused on distributing products with high quality and advanced technology internationally recognized. VCOM, equipped with its strong leadership with professional and experienced management team, aimed to become IT leader offering a full range of solutions in the ASEAN Economic Community (AEC). The fund raised will be used as working capital to increase sales generating from large projects in Thailand, Cambodia, Laos and Myanmar.
VCOM's three major shareholders after the IPO are Narong Intanate's group (73.33 percent), Nithima Laogumnerd (2.05 percent) and Songsri Srirungroungjit (1.17 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 14.71 times calculated by using the company's net profit in the past four quarters (Q4/2016 - Q3/ 2017) divided by fully diluted shares, representing earnings per share of THB 0.20. VCOM's dividend policy is to pay no less than 50 percent of net profit, after 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.vintcom.co.th , as well as www.set.or.th .