Bangkok--May 3--SET
The Market for Alternative Investment (mai) approves listing of Siam2you Pcl., a provider of information technology and digital communications services. The company has successfully presented its initial public offering on April 20 — 22, 2005, raising approximately THB71 mln. It will spend the funds to expand its business and customer base, invest in research & development, and develop its internal organization.
The President of the Market for Alternative Investment (mai), Mr. Vichate Tantiwanich, said that the SET Board of Governors has approved the listing of Siam2you Pcl. on the mai. Its securities will commence trading from May 4, 2005 onwards, using “S2Y” as their trading symbol.
“S2Y mainly earns its income from its wireless value-added services for users of mobile phones. Such users form a very large group of consumers. Therefore, Siam2you has the potential to be another interesting firm for investors wishing to cash in on the consumption trends of the digital age. It’s an area in which Siam2you has successfully responded to the changes in consumer preferences, as reflected in its continuous revenue growth,” Mr. Vichate said.
S2Y has THB40.93 mln. (approx. USD1.02 mln.) worth of paid-up capital. This holding is comprised of 30.70 mln. existing shares plus an additional 10.23 mln. shares in capital increase, each with a par value of THB1.00.
During April 20 - 22, 2005, the company sold 9.87 mln. shares to the public at THB7.00. This price represents 5.88 times its price-earning ratio. It sold another 0.35 mln. shares to its directors, executives and employees at THB5.25. The funds raised equaled approximately THB71 mln. (approx. USD1.78 mln.). The funds will be spent to expand the company’s business and customer base, invest in a research & development project and develop its internal information system and staff. Sage Capital Co. Ltd. acted as S2Y’s financial advisor.
S2Y is engaged in the provision of information technology and digital communications services. The business can be classified into three groups—1. Wireless Value-Added Services, 2. Interactive Solutions, and 3. Digital Media. About 80-90% of its revenues have been derived from S2Y’s Wireless Value-Added Services unit. As for its dividend payment policy, S2Y will pay out no less than 50% of its net profits after taxes and reserves.
In addition to the IPO shares sold to the public, there was an additional portion sold by S2Y’s shareholders. Transpac Nominees Pte. Ltd. sold 2 mln. shares to the public. And, Junior Lieutenant Suparidi Sribhadung will sell 1 mln. in a big board lot on the first trading day of S2Y at THB7.00 per share, similar to the IPO price.
After the IPO, the Sribhadung Group, who used to hold 40.73% of S2Y’s paid-up capital, will have their holdings reduced to 38.29%. Another 3 principal shareholders are Transpac Nominees Pte. Ltd., BancBoston Investments Inc., and Mr Niklas Stalberg, who hold 9.99%, 9.92%, and 5.22% of the Company’s paid-up capital, respectively.
For more information on Siam2you Pcl., please browse the company’s website, www.siam2you.net, the mai’s website, www.mai.or.th; or SETTRADE.Com’s website, www.settrade.com
For more information,
please contact the Corporate Communication Dept.:
Ladawan Kantawong Tel: 0-2229-2036
Kulvida Jintakawong Tel: 0-2229-2037
Nattaporn Boonprapa Tel: 0-2229-2049
Watsamon Saowakhonsathien Tel: 0-2229-2797 End.