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The Stock Exchange of Thailand (SET) welcomes TV Direct pcl to its Market for Alternative Investment (mai). The company will list and start trading on August 23, under the ticker symbol “TVD” after it raised THB 120.24 million (approx. USD 3.76 million) through an initial public offering (IPO).
TVD sells and distributes products and services through multiple channels, including free TV, cable TV, retail stores, and TVdirect showcase, under a concept “Entertaining People with Information,” providing more than 1,500 products items to more than 1.3 million subscribers nationwide.
TVD has a paid-up registered capital of THB 188 million, with a par value of THB 0.50 each, consisting of 318.08 common shares and 57.92 new shares issues. It sold 54.62 million new shares at THB 2.10 per share and offered 3.3 million shares to its committees and employees at THB 1.68 each during August 14-16. The fundraising proceeds will be used for working capital. Underwriters are Capital Nomura Securities pcl and Finansia Syrus Securities pcl which is also is the company’s financial advisor.
"TVD is a product and service distributor with potential that grows along with the country’s domestic consumption. The listing on mai enables the company to reach a fundraising source for its business expansion in overseas markets,” said mai President Chanitr Charnchainarong.
Songpol Shanmatkit, CEO of TV Direct pcl said; “We are pleased to become a listed company on mai. TVD sells and distributes products of more than 1,500 items via multichannel direct marketing. The fundraising will boost the company’s working capital, enabling us to strongly expand retail branch network nationwide and into overseas markets, including Cambodia, Laos, Malaysia, and Vietnam. This will also help boost our competitiveness and allow us to cope with both local and AEC competitors in 2015.”
The P/E ratio of the company at its IPO price was 23.33 times, while its dividend policy is to pay no less than 55 percent of net profits after taxes of its unconsolidated finance statement. TVD's three major shareholders after IPO are Mathuranont group (18.52 percent), Issara Vitayathanakorn (14.55 percent), and Lai Chien-Kuo (12.19 percent).
For more information on TVD, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.tvdirect.tv and www.set.or.th
