Mr. Teerachat Silasonthayanon, Director of Finansa Securities Company Limited, as Joint Underwriter and Underwriter New Ordinary Shares of TBN Corporation Public Company Limited (TBN), announced that TBN has set the offering price for 25 million IPO shares, representing 25% of the issued and paid-up shares Common shares of the whole company Following this offering, newly issued common shares will have a par of 0.50 baht at a price of 17 baht per share. Subscriptions will be offered between June 12th and 14th and are expected to trade in May for the first day in the Technology Sector (TECH) in June 19.02.2023 on ticker symbol “TBN”
As for the offering price of common shares, 17 baht per share is considered a reasonable price level. Highlights the interesting features of TBN as a low-code service provider, a platform that is the trend of modern companies that need rapid application software development. For more than 15 years, it has provided an opportunity to expand the market to meet customers’ needs. Build strong growth with the digital age in the future.
Ms. Veeraya Sriwattana, Head of Investment Banking Department Investment Firm CGS-CIMB (Thailand) Co., Ltd. as joint underwriter and underwriter said TBN is Asia’s most experienced low-code vendor. Siemens has commissioned the company to be the first distributor of MENDIX software licenses to promote the use of the low-code platform in Thailand. and currently there is only one strength: partnering with world-class technology leaders Trusted by multinationals and blue-chip customers across the industry
Additionally, it is a fast-growing industry leader with a CAGR of 31.60% and positive trends in digital transformation. And is a fully integrated digital solutions provider with recurring revenue at a high level of more than 50% at the end of 2022, giving investors confidence that TBN’s revenues remain stable on an ongoing basis. Ready to become the leader in developing and delivering full digital solutions (One Stop Service) most accepted in Asia. Be strong in the future
Mr. Panayu Sirikrajangsri TBN’s CEO announced that the company is ready to further expand the business. This IPO is another important step that will help TBN grow in line with its strategy. Become a leader in the development and delivery of integrated digital solution services with vision Strive to be a leading provider of low-code and AI-driven business models and create digital transformation to foster business partners at the regional level
Approximately 425 million baht will be used as working capital for business expansion. This includes increasing potential and competitiveness, for example by using it as working capital in digital development projects to support digital transformation. with an increasing tendency to increase staff personal development Development of various systems and facilities to support the number of projects and the increasing number of employees, etc.
The company plans to expand its team to support digital solution service projects, which is likely to grow in the future as many organizations pay more attention to the application of technology in the enterprise. In addition, it is important to control the cost of services. The TBN MENDIX Academy department was therefore founded for long-term, efficient and sustainable corporate management.
For 2022 operating results, the company’s services revenue was 360.55 million baht, with gross profit from services of 102.39 million baht, gross profit margin of 28.40 percent and net profit of 35.56 million baht . Latest Operating Results For Q1 2023, the company’s service revenue was 116.83 million baht, with service gross profit of 49.22 million baht, gross profit margin of 42.13 percent and net profit of 25.98 million equivalent to baht
Ms. Duanpan Leelawiwat, General Manager of Pioneer Advisory Co., Ltd. as a financial advisor, said that TBN is the leading provider of low-code platforms in Thailand, a technology that supports app development. Applications are 6-10 times faster than before without requiring a large number of software developers, leading to higher business outcomes. It is a technology trend popular in international markets. But it is still considered new in Thailand. Therefore, it represents an opportunity for market expansion. Currently, TBN has customers in both banking groups. Financial institutions, retailers, factories and government sectors, etc.
This fundraiser will help TBN expand its application development services and expand the scope of software license (license) sales to other industry customers. comprehensive, e.g. in the processing industry food and beverage industry Involving customers in the Asian region to create platform solutions and to expand the MENDIX services for financial institutions, banks and insurance companies. and Other Industries Build a new customer base This includes increasing sales to existing customers and strengthening TBN as a leader in the development and delivery of digital solutions that will continue to grow in the future.
From the InfoQuest news agency (09 June 2023)
Tags: TBN, TBN Corporation, tar agate Sillapsontayanon
