mai welcomes data center and IT infrastructure service provider INSET on Oct 8

Stocks and Financial Services Press Releases Tuesday October 8, 2019 13:44
Bangkok--8 Oct--SET

Market for Alternative Investment (mai) will list Infraset pcl (INSET), a data center and IT infrastructure service provider, on October 8, under the ticker symbol "INSET". The company has a market capitalization at its initial public offering (IPO) of THB 1.51 billion (approx. USD 48.6 million).

mai President Prapan Charoenprawatt said INSET would list and start trading on mai in Technology industry group.

INSET provides data center and information technology infrastructure services, covering communication, Wi-Fi, LAN and electrical systems. The company also provides services in infrastructure and telecommunication projects, including the installation of telecom signal poles for telecom operators in Thailand, and ground and underground network system, as well as after-sales maintenance service.

INSET has a registered paid-up capital of THB 280 million, consisting of 414 million existing common shares and 146 million newly issued shares, with a par value of THB 0.50 each. On September 27 and 30, and October 1, 2019, it offered 14.6 million newly issued shares to directors, management team, and employees, 16.9 million shares to sponsors of the company, 1.85 million shares to institutional investors, and 112.65 million shares to investors through underwriters, for a total of THB 392.74 million. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 13.70 times, calculated by using the company's net profit in the past 12 months (July 1, 2018 - June 30, 2019) of THB 109.95 million, divided by fully diluted shares, representing earnings per share of THB 0.20. Asia Plus Advisory Co., Ltd. is its financial advisor and Asia Plus Securities pcl is its lead underwriter.

INSET Managing Director Sakboworn Pukkanasut said that the company has been operating for more than 13 years by experienced teams with expertise in exploration, design, construction and installation of projects related to data center and IT system as well as infrastructure and telecom network. The company's adherence to quality standards and on-time delivery has greatly satisfied customers' demands. Listing on mai will strengthen the company's capital base. The fund raised will be used as working capital and for business expansion, which includes the underground communication cable network construction project in Bangkok, Area 2 and Google station project.

After the IPO, INSET's top three major shareholders are Pukkanasut family (49.21 percent),

Acting Sub-Lieutenant Suraphan Techaiya (4.29 percent), and Mr. Metha Chotiaphisitkul (3.83 percent), of the paid-up capital. The company's dividend policy is to pay no less than 40 percent of net profit of the company's separate financial statement after legal reserves.

For more information on INSET, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.infraset.co.th and www.set.or.th.


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