SET - The Stock Exchange of Thailand

11/14/2019 | Press release | Distributed by Public on 11/14/2019 04:29

mai News :mai welcomes integrated networking solution provider 'TPS' on Nov 15

SET News 94 /2019 November 14, 2019 mai welcomes integrated networking solution provider 'TPS' on Nov 15 BANGKOK, November 14, 2019 - Market for Alternative Investment (mai) will list The Practical Solution pcl (TPS), a consultant, designer, provider, installer, and distributor of turnkey IT products and equipment, on November 15, under the ticker symbol 'TPS', with a market capitalization at its initial public offering (IPO) of THB 700 million (approx. USD 22.95 million). mai President Prapan Charoenprawatt said TPS would list and start trading on mai in Technology industry group. TPS business covers consultancy, design, installation and distribution of products for IT infrastructure and complete solutions for network computing and e-business including maintenance service. TPS offers six solution systems for customers: computer infrastructure, wireless LAN, network security, unified communication, data center solution and network management system. The company partners with leading technology brands such as Cisco, NetApp, Palo Alto Networks, Symantec, VMware and Fortinet, etc. TPS mainly distributes Cisco products, and serves customers in both private and public sectors with more ratio in the public sector. TPS has a registered paid-up capital of THB 140 million, consisting of 200 million existing common shares and 80 million newly issued shares, with a par value of THB 0.50 each. It offered the entire newly issued shares to general public via IPO at THB 2.50 each, for a total of THB 200 million, during November 5-7, 2019. Of the newly issued shares, 60 million were allocated to persons under the underwriters' discretion, 12 million to the company's sponsors, and 8 million to directors, management team, and employees. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 11.57 times, calculated by using the company's net profit in the past 12 months (July 1, 2018 - June 30, 2019) of THB 60.48 million, divided by fully diluted shares, representing earnings per share of THB 0.22. KGI Securities (Thailand) pcl is its financial advisor and lead underwriter. TPS Chief Executive Officer Bunsom Kitkasetsathaporn said that the company has over 12 years of business experience categorized as a Cisco's Gold Certified Partner, the top tier ranking of a global leader in IT. TPS's team has extensive knowledge and expertise in advanced technology catering to customers' demand and the changing technology landscape. The fund raised will be used to repay debts from investment to acquire land and construct new headquarters' office building, establish network operation center, demo data center, and security & collaboration center. It will also be used as working capital. TPS's top three major shareholders after IPO are Kitkasetsathaporn Group (51.26 percent), Withawasiri Group (15.72 percent), and Ms. Aumaporn Sengsui (2.14 percent). The company's dividend policy is to pay no less than 40 percent of net profit of the company's separate financial statements after corporate income tax and legal reserves. For more information on TPS, 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.thepractical.co.th , as well as www.set.or.th. 'SET... Make it Work for Everyone' ______________________________________________________________________