mai President Prapan Charoenprawatt said ICN would list and start trading on mai in the Technology industrial group. ICN specializes in design and installation of telecommunication system by using equipment from its global brand alliances such as Nokia Alcatel-Lucent, Huawei, Coriant, Oscilloquartz and Gemalto, among others. The company also supplies spare parts and provides maintenance services for telecommunication system, as well as offering solutions for construction and electrical systems.
ICN has a paid-up capital of THB 225 million, consisting of 330 million existing common shares and 120 million newly issued shares, with a par value of THB 0.50. During September 8, 11-12, 2017, the company offered newly issued shares to general public, directors, executives and employees via IPO at THB 1.84 each, for a total of THB 220.80 million.Finansia Syrus Securities pcl is its financial advisor and underwriter.
ICN Chief Executive Monchai Manepairoj said on top of over 25 years of experience in telecommunication business, the company has earned more customers' trust by using top quality equipment from global brand partners. The fund raised would be used as working capital to serve the growing demand from new projects coming from private and government telecommunication provider investment.
ICN's three major shareholders after the IPO are Manepairoj Group (19.43 percent), Laohasomboon Group (12.82 percent) and Rungruangpol Group (12.82 percent). The IPO price was equivalent to price-to-earnings ratio (P/E) of 18.37 times, calculated by using the company's net profit in the past four quarters (July 1, 2016-June 30, 2017), divided by fully diluted shares, representing earnings per share of THB 0.10. ICN's dividend policy is to pay no less than 40 percent of net profit after taxes and legal reserves.
For more information, please see the company's prospectus at the Securities and Exchange Commission's (SEC) website at www.sec.or.th; and for general information, please visitwww.icns.co.th , as well as www.set.or.th.