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20 JUNE 23

TBN Ready for Takeoff on mai Market June 19: Tech IPO Overwhelmingly Subscribed as Investors Bet on Digital Future

The bell rings for TBN! TBN Corporation PLC officially joins the mai market on June 19 after a successful IPO at 17 THB per share. With an impressive 42.13% gross profit margin in Q1/2023, TBN is poised to dominate the regional Digital Solutions market through Low-Code and High-Code innovation.
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Unanimous Investor Confidence: Fair Pricing and Strong Fundamentals

Lead Underwriters Mr. Teerachat Sinlapsanont (Finansia Syrus) and Ms. Veeraya Siriwan (CGS-CIMB) revealed that the subscription period saw a complete sell-out of the 25 million shares. Investors cited TBN’s unique market position and the reasonable IPO valuation as key factors. Furthermore, Ms. Monthana Leelaviwat (Pioneer Advisory), the financial advisor, noted that the capital injection would directly fuel TBN’s infrastructure for large-scale digital investments.

Financial Highlights: Explosive Q1 2023 Growth

TBN enters the market with a track record of financial excellence:

FY 2022: Revenue of 360.55 million THB with a 28.40% initial profit margin.

Q1 2023: Revenue reached 116.83 million THB, with initial profit margins soaring to 42.13%.

This profitability showcases TBN’s operational efficiency in delivering high-value Digital Solution Services.

The Road Ahead: Scaling Innovation Across Asia

Mr. Panayu Sirikrachangsri (CEO, TBN) emphasized that the mai listing marks a pivotal moment for the company’s expansion. With the raised capital, TBN is ready to accelerate its software development capabilities—leveraging both Low-Code and High-Code technologies. The goal is to establish TBN as the most acclaimed Digital Solutions provider in Asia, driving sustainable business transformation for enterprises across the region.

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