SET welcomes insurance brokerage holding firm TQM on December 20

Stocks and Financial Services Press Releases Wednesday December 19, 2018 17:24
Bangkok--19 Dec--SET

The Stock Exchange of Thailand (SET) will list TQM pcl – a leading holding company investing in insurance brokerage businesses – on December 20, under the ticker symbol "TQM". The company has a market capitalization at its initial public offering (IPO) of THB 6.9 billion (approx. USD 209.1 million).

SET Senior Executive Vice President Manpong Senanarong said that TQM would list and start trading on SET in Financials industry group, Insurance sector.

TQM is a holding company by holding shares in insurance brokerage companies. Currently, the company has two subsidiaries that operate core business namely TQM Insurance Broker Co., Ltd. (TQM Broker), operating non-life insurance broker business, focusing on telemarketing car insurance services; and TQM Life Insurance Broker Co., Ltd. (TQM Life), operating life insurance broker business. Moreover, the company also has other supporting subsidiaries which provide IT and software services and online insurance consulting services through TQM's website. The company offers variety of products from business partners through 95 branches and service centers effectively catering to customer needs.

TQM has a registered paid-up capital of THB 300 million, consisting of 225 million existing common shares and 75 million newly issued shares, with a par value of THB 1.00 each.It offered 68.90 million newly issued shares to investors through underwriters, institutional investors, patrons of the company and subsidiaries; and 6.10 million shares to directors, management and/or employees of the company and/or its subsidiaries, during December 12-14, at THB 23.00 each, for a total of THB 1.73 billion. Bualuang Securities pcl and Thanachart Securities pcl are its financial advisors and lead underwriters.

TQM Chairman Unchalin Punnipa said the fund raised from the IPO would strengthen the company's capital base to serve business expansion in the near future. The fund raised would be used to enhance and develop information technology and online selling channels, as well as for investing in Enterprise Resource Planning (ERP) system to boost customer services in order to serve the company's growth towards Digital Insurance Broker positioning.

TQM's three major shareholders after the IPO are Group of Unchalin Punnipa Group (67.90 percent), Ratana Punnipa (2.50 percent) and Sorasak Thanburi and Sulalita Thanburi ( at 2.47 percent each). The IPO price was determined based on a book building process, equivalent to price-to-earnings (P/E) ratio of 20.9 times calculated by using the company's net profit in the past 12 months (Q4/2017-Q3/2018), divided by fully diluted shares, representing earnings per share of THB 1.10. TQM's dividend policy is to pay no less than 50 percent of net profit from the company's financial statements after corporate income tax and legal reserves.

For more information, please see the company's prospectus at the Securities and Exchange Commission's website at ; and for general information, please visit, as well as

Latest Press Release

mai welcomes petroleum transport provider VL on May 21

Market for Alternative Investment (mai) will list V.L. Enterprise pcl, a marine transportation service provider for petroleum and chemical products, on May 21, under the ticker symbol "VL". The company has a market capitalization at its initial public...

ThomasLloyd Launches First Open-ended Public Infrastructure Fund and Signs Global Fund Distribution Agreement With Allfunds

The global investment and advisory firm ThomasLloyd announced that it is cooperating with Allfunds, one of the world's leading distributors of investment funds. Following the signing of a global framework agreement relating to ThomasLloyd´s fund...

Ichitan Group unveils high Q1 net profit with 247.1% YoY growth, aiming for continuous growth in Q2 through regional exports

Ichitan Group Public Company Limited (SET:ICHI) today announces a strong net profit growth of 247.1% YoY in the first quarter worth 114.2 million baht, accounting for net profit margin of 8.7%. Such profit is derived from management efficiency and a...

KBank opens the exhibition booth at Money Expo Bangkok To offer special promotions under KBank Always With You concept

KBank will make its presence felt at Money Expo Bangkok from May 16-19, 2019 by offering special promotions, discounts, bonuses, giveaways and privileges for homebuyers looking for mortgage loans, together with the best interest rates and conditions for...

Fitch Rates EXIM#s USD Senior Notes #BBB+(EXP)#

Fitch Ratings has assigned an expected rating of 'BBB+(EXP)' to Export-Import Bank of Thailand's (EXIM, BBB+/Stable) five-year senior unsecured notes. The notes will be issued under the bank's USD1.5 billion medium-term note (MTN) programme. EXIM plans...

Related Topics