Bangkok--18 Oct--SET
The Stock Exchange of Thailand (SET) will list Copperwired pcl, a retailer and wholesaler of top digital lifestyle brands, on October 18, under the ticker symbol "CPW". The company has a market capitalization at its initial public offering (IPO) of THB 1.43 billion (approx. USD 46.1 million).
SET Senior Executive Vice President Manpong Senanarong said that CPW would list and start trading on SET in the Services industry group, Commerce sector.
CPW distributes over 2,000 categories of digital lifestyle products, spanning from smartphones, computers, to peripheral devices, from leading 200 brands in 19 ".life" shops nationwide. CPW has been appointed as an authorized dealer of Apple products through 14 iStudio by Copperwired shops, one AI_Siam Discovery shop, 5 iServe shops and one U-Store shop by Copperwired at Suan Sunandha Rajabhat University, all in Bangkok. Furthermore, CPW's e-commerce platform is available on the company's websites: www.dotlife.store and www.istudio.store, while its subsidiary Koan Co., Ltd. (KOAN) is the wholesaler of digital lifestyle products, mostly imported items.
As of June 30, 2019, CPW has a registered paid-up capital of THB 220 million with a par value of THB 0.50 each. After it offered 160 million newly issued shares to general public through IPO at THB 2.38 each for a total of THB 380.8 million, the registered paid-up capital is expected to rise to THB 300 million. KT Zmico Securities Co., Ltd. is its financial advisor and lead underwriter.
CPW Chief Executive Officer Paramate Rienjaroensuk said the fund raised would be used for branch and business expansion. The listing will further strengthen the company's position as a retail and wholesale digital lifestyle business leader offering the most comprehensive product range in Thailand.
CPW's three major shareholders after IPO are Intanate Group and Vnet Capital Co., Ltd. (54.88% percent), Paramate Rienjaroensuk (11.28 percent) and Melco Holdings Inc. (4.11 percent).
CPW's dividend policy is to pay no less than 50 percent of net profit from the company's financial statement after corporate income tax and legal reserves. However, the company's dividend payout may be different from this policy subject to the company's performance, financial liquidity, necessity to use working capital for business management, future business plan, and economic circumstances.
For more information on CPW, 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.copperwired.co.th and www.set.or.th.