“TBN Corporation Plc., also known as TBN, announced the ringing of the opening bell for trading on the Market for Alternative Investment (mai) on June 19th. Teerachat Sinlapsanont, the CEO of Finance Asia, and Veeraya Siriwan, the CEO of CGS-CIMB Securities (Thailand), as Lead Underwriters, revealed the results of the subscription, with investors sweeping up 25 million shares, demonstrating confidence in the company’s growth potential. They specified the IPO price at 17 baht per share, considering it reasonable. Meanwhile, Monthana Leelaviwat, the CFO of Pioneering Solutions Company Limited, expressed that this capital raising exercise strengthens the company’s capital base, competitiveness, and enables new investments. Panya Sirikrachangsiri, the CEO of TBN, also highlighted the opportunity for investors and the public to participate in the company’s success, with a vision to become a leader in developing and providing highly acclaimed Digital Solutions in Asia, fostering sustainable business growth.
Teerachat Sinlapsanont, the Director of Finance Asia, and the co-manager of the offering, disclosed that after the initial public offering (IPO) of 25 million common shares at a price of 17 baht per share, which took place between June 12th and June 14th, 2023, TBN shares garnered significant investor interest due to confidence in the company’s growth potential. This follows the presentation of information (Roadshow) to investors.
Veeraya Siriwan, the Head of Corporate Finance at CGS-CIMB Securities (Thailand) and the co-manager of the offering, stated that the IPO price of 17 baht was considered appropriate. TBN offered 25 million IPO shares at a par value of 0.50 baht per share, representing 25% of the total issued and paid-up ordinary shares after the completion of the previous ordinary share capital increase. It is anticipated that the shares will begin trading on the mai market on June 19th, 2023, in the Technology sector.
Panayu Sirikrachangsiri, the CEO of TBN, emphasized that the registration in the mai market is a significant step towards expanding the business, increasing growth opportunities in the future, and providing an opportunity for investors and the general public to be part of the company’s continued success. This aligns with the organization’s vision to become a leader in developing and providing highly acclaimed Digital Solutions in Asia, coupled with fostering sustainable business growth.
In terms of the company’s performance in the year 2022, the revenue from the company’s services amounted to 360.55 million baht, with an initial profit of 102.39 million baht, representing an initial profit margin of 28.40%. The net profit was 35.56 million baht. In the latest quarterly performance report for the first quarter of 2566, the revenue from the company’s services reached 116.83 million baht, with an initial profit of 49.22 million baht, reflecting an initial profit margin of 42.13%. The net profit amounted to 25.98 million baht.
Monthana Leelaviwat, the Managing Director of Pyoneer Advisory Co., Ltd., as the financial advisor, mentioned that TBN’s opportunity to register on the mai market will enhance the company’s readiness to invest in software development, whether it be using Low Code or High Code, as well as the development of new technologies, tools, and techniques to assist in programming and enhance TBN’s significant future growth potential.”