Symphony Communication PCL, a domestic network provider of high speed data communication circuits, will list in the Information & Communication Technology Sector, Technology Group of The Stock Exchange of Thailand (SET) on November 26. The company has raised THB644.10 million (approx. USD21.47 million) and will use SYMC as its trading symbol, revealed SET Group Head, Issuer & Listing, Chanitr Charnchainarong.
SYMC uses the service name “Symphony,” and was the first firm to obtain Telecommunication Service License Type II, issued by the National Telecommunications Commission. SYMC covers business areas in Bangkok and nearby provinces, using efficient and accurate fiber optics. With computerized control systems, SYMC can check on problems for users rapidly. (As specified in SYMC’s prospectus).The SET is encouraging companies in the Information & Communication Technology business to list, as they are vital industries with potential growth and need funds for expansion.
SYMC has a total paid-up capital of THB300 million (USD10 million), consisting of 225 million existing common shares and 75 million shares from its capital increase, with a par value of THB1.00 each. At its initial public offering on November 17-19, the company raised THB644.10 million (approx. USD22.14 million), by offering 72 million shares at THB8.80 per share to the general public. Moreover, during October 15-19, SYMC offered 3 million shares from its capital increase at THB3.50 per share to its employees. The funds raised will be used for expanding and enhancing networks, building a back-up center, repaying debt, and as working capital. Thanachart Securities PCL was its financial advisor and underwriter.
IPO price was based on book building, indicating the number of shares that institutional investors desire and the price they are willing to pay (As specified in SYMC’s prospectus).
SYMC’s dividend payment policy is to pay no less than 40% of net profits after taxes and legal reserves. The company's major shareholders are Pantarasutra’s Group, Asawasuwan’s Group, Thanakijsuntorn’s Group, Srisuphakhanin’s Group, and Mr. Niphol Suwannachet, who hold 16.35%, 16.35%, 8.17%, 8.17%, and 8.17% respectively, of total shares after IPO.
Investors and other interested parties can see more details in the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th. For general information, please visit the company's website at www.symphony.net.th and at www.set.or.th.
