||Asean Affairs 6 June 2013
Thai alternative bourse lists entertainment content creator on June 6
The Stock Exchange of Thailand (SET) welcomes Mono Technology plc to its Market for Alternative Investment (mai). The company will list and start trading on June 6, under the ticker symbol "MONO", after it raised THB 2.79 billion (USD 9.62 million) via an initial public offering (IPO). MONO is the seventh company to list on mai this year, aiming to expand business locally and abroad and bid for a digital TV broadcast license, thus offering a complete range of entertainment services.
Chanitr Charnchainarong, mai president, said: “The company and its subsidiaries operate in businesses that support each other: 1) providing media and content through mobile phones, Internet, publications, TV, etc. and 2) providing entertainment, such as music and movies.”
MONO has a paid-up registered capital of THB 140 million, with a par value of THB 0.10, consisting of 1,155 million existing common shares and 245 million newly-issued shares. The company sold 245 million shares to the general public through an IPO on May 29-31 at THB 11.40 per share, for a total of THB 2.79 billion. Advisory Plus Co., Ltd. is the company's financial advisor. Kasikorn Securities pcl and Bualuang Securities pcl are the company's co-lead underwriters.
MONO Chief Executive Officer Sang Do Lee said: “Fundraising proceeds will be used to expand business in Thailand and other countries, purchase content to extend our customer base, and acquire related businesses. Part of the proceeds will be used to bid for a digital TV channel provider license to underline the company’s leading position as an entertainment content creator which efficiently provides quality information to support customer needs, managed by a professional team with extensive experience."
MONO's three major shareholders after the IPO are Pete Bodharamik (71.87%), Soraj Asavaprapha (2.32%), and Navamin Prasopnet (0.71%). MONO IPO price derived from Book Building scheme and has a price-earnings (P/E) ratio) of 25.34 times, calculated using earnings per share over the last four quarters (from the second quarter of 2012 to the first quarter of 2013). The company's dividend policy is to pay no less than 50 percent of net profits after corporate taxes and reserves.