TBN beats on IPO price of 17 baht, open for orders June 12-14, starts trading on May 19

Mr. Teerachat Silasonthayanon, Director of Finansa Securities Company Limited, as the underwriter and joint underwriter Mr. New ordinary shares of TBN Corporation Public Company Limited (TBN) revealed that TBN has set the offer price of 25 million shares of IPO shares, representing 25% of the company’s issued and fully paid ordinary shares After this offering of newly issued ordinary shares Par value (par) of 0.50 baht at a price of 17 baht per share Subscriptions are open from June 12-14 and are expected to be traded on May for the first time in the technology sector (TECH) on June 19, 2023 in the stock symbol “TBN”

Regarding the offer price of ordinary shares, 17 baht per share is considered to be an appropriate price level. Highlights the interesting features of TBN as a Low Code service provider, a platform that is a trend of modern businesses that need rapid application software development For more than 15 years, it is an opportunity to expand the market to meet customer needs. Building strong future growth with the digital age.

Ms. Weeraya Sriwattana, Head of Investment Banking Department of securities firm CGS-CIMB (Thailand) Co., Ltd. said that as the underwriter and joint underwriter, TBN is Asia’s most experienced Low Code provider. It has been entrusted by Siemens to be the first distributor of MENDIX software licenses to drive the use of a Low Code Platform in Thailand. and currently there is only one Strengthens partnership with world-class technology leaders Trusted by international companies and world-class customers across the industry

Additionally, it is a fast growing industry leader with a CAGR of 31.60% with positive trends in digital transformation. And it is a fully integrated digital solution provider with recurring income at the end of 2022 at a high level of more than 50%, making investors confident that TBN’s income is continuously stable. Ready to become a leader in developing and providing complete digital solutions (One Stop Service) which is most accepted in Asia. be strong in the future

Mr. Panayu Sirikrajangsri CEO of TBN revealed that the company is ready to continue expanding the business. This IPO is another important step that will support TBN to grow in line with its strategy. Become a leader in developing and providing integrated digital solutions services with a vision of Striving to be a Leader in Low Code Driven and AI Enabled Business and Create Digital Transformation to elevate business partners to the regional level

About 425 million baht will be used as working capital for business expansion. Including increased potential and competitiveness, for example, use as working capital in digital development projects to support digital transformation. with an upward trend used to increase the number of personnel development personnel development systems and various facilities to support the number of projects and the increasing number of personnel, etc.

The company has a plan to expand its team to support digital solution services projects that are likely to grow in the future as many organizations pay more attention to the application of technology in the organization. Along with the importance of managing the cost of services. Therefore, the TBN MENDIX Academy department was established for efficient and sustainable business management in the long term.

For the operating results in 2022, the revenue from the company’s services was 360.55 million baht, with a gross profit from services of 102.39 million baht, representing a gross profit margin of 28.40 percent and a net profit of 35.56 million baht The results latest operation for the 1st quarter of 2023, the company’s revenue from services was 116.83 million baht, with a gross profit from services of 49.22 million baht, representing a gross profit margin of 42.13 percent and a net profit of 25.98 million baht.

Ms.Duanpan Leelawiwat, Managing Director of Pioneer Advisory Co, Ltd, as a financial advisor, said that TBN is the leading Low Code platform in Thailand, a technology that helps develop apps. Applications are 6-10 times faster than before without the need for a large number of software developers, leading to higher business results. It is a technology trend that is popular in international markets. But it is still considered new in Thailand. Therefore, it is an opportunity to expand the market. financial institutions, retailers, factories and government sectors, etc.

This fundraiser supports TBN to expand its application development services And expand the scope of selling software licenses (License) to other industrial customers. comprehensively, such as the manufacturing industry food and beverage industry Including customers in the Asian region to create Platform Solutions and extend MENDIX services for financial institutions, banking, insurance companies. and other industries Building a new customer base Including increasing sales with existing customers, reinforcing TBN as one of the leaders in developing and providing digital solutions that will grow steadily in the future.