Bangkok--10 Nov--SET
Thailand’s Market for Alternative Investment (mai) will list and trade Nation Broadcasting Corporation PCL on November 11, using “NBC” as its trading symbol, revealed The Stock Exchange of Thailand’s Group Head, Issuer & Listing and mai President Chanitr Charnchainarong. NBC will use the THB145 million (approx. USD4.34 million) raised to strengthen its 24-hour news channel ‘National Channel,’ and for new media business.
“With the company’s long-time experience combined with financial strength, raising funds through mai will help its business to expand in response to customers’ needs. This will benefit NBC’s operation,” said Mr. Chanitr.
NBC is a subsidiary of Nation Multimedia Group PCL (NMG). The company produces 24- hour news station to broadcast nationwide and overseas via numerous channels. It also produces content for news and other knowledge for other free TV channels, including new media business in digital channels, e.g., websites and mobile telephones.
The company has a total paid-up capital of THB170 million (approx. USD5.09 million), consisting of 120 million existing common shares and 50 million capital increase shares for IPO, with a par value of THB1.00 each. The company raised THB145 million (approx.USD4.34 million), by offering 20 million shares to NMG’s existing shareholders and 30 million shares to the general public at THB2.90 per share. In this occasion, NMG as a major shareholder of NBC, offered its existing common shares of 15 million shares at THB2.90 per share to the general public, or a total of THB43.50 million (approx. USD1.30 million). Jaydee Partners Co., Ltd. was its financial advisor and CIMB Securities (Thailand) Limited was its underwriter.
NBC’s dividend policy is to pay no less than 40% of net profit after corporate tax and legal reserves. The company’s operating performance in H1/2009 recorded total revenues of THB213 million (approx. USD6.38 million), increasing from THB163 (approx. USD4.88 million) last year, or a 31% rise, while the net profit of H1/2009 was at THB17 million (approx. USD0.51 million), soaring from THB13 million (approx. USD0.39 million), or a 30% increase. The company has low liabilities, with D/E ratio of 0.87 times as of June 30, 2009. (According to the company’s prospectus)
The company's P/E ratio at its IPO price was at 14.45 times, or a discount rate of 17.94% to mai’s average P/E ratio during the three months of July 13-October 12, 2009, which was at 17.61 times. The major shareholder is NMG, which holds 61.76%, of total shares after the IPO.
For more information about Nation Broadcasting Corporation PCL, please see the company's prospectus at the Securities and Exchange Commission's website, www.sec.or.th ; for general information on the company, please visit www.nbc.co.th ,
www.set.or.th or www.settrade.com .
Press office, please contact Public Relations Unit, the Corporate Communications Dept.: Ladawan Kantawong Tel: 0-2229-2036 / Kanokwan Khemmalai Tel: 0-2229-2048 / Panitee Chatpolarak Tel: 0-2229-2792