The Stock Exchange of Thailand (SET) will list The One Enterprise pcl, a leading producer and creator of comprehensive media and entertainment content, on November 5 under the ticker symbol "ONEE". The company has a market capitalization at its initial public offering (IPO) of THB 20.24 billion (approx. USD 608.19 million).
SET Senior Executive Vice President Manpong Senanarong said that ONEE would list and start trading on SET in the Services industry group, Media & Publishing sector.
ONEE is a holding company of the GMM Grammy Group (GRAMMY) as a vertically integrated service provider, starting from media and entertainment content creator & producer of various kinds of quality contents covering all target groups. The contents are distributed via multiple channels, offline and online, consisting of television (the owner of the ONE31 channel and the marketing agency of the GMM25 channel), radio, social media and over-the-top (OTT) platforms of ONEE group as well as local and foreign partners. ONEE business operations range from upstream to downstream approaches, enabling flexibility and agility to continuously respond to the ever-changing consumer behaviors. Consequently, ONEE is considered a leading producer of media and entertainment content in the country.
ONEE has a registered paid-up capital of THB 4.76 billion. It offered 496.25 million common shares consisting of 476.25 million newly issued shares and 20.00 million existing common shares held by Scenario Co., Ltd. with a par value of THB 2.00 each to persons at the underwriter's discretion, its patrons, persons relevant to the company and its employees during October 20 - 21 and 25 - 26, 2021, and to institutional investors during October 28 - 29 and November 1, 2021, at THB 8.50 each, for a total of THB 4.22 billion including the fundraising of THB 4.05 billion. Kiatnakin Phatra Securities pcl is the financial advisor and lead underwriter.
ONEE Chief Executive Officer Takonkiet Viravan said that the company plans to use the fund raised to enhance competitive advantage, service provision efficiency in the future and production potential; create quality content; improve artists and human resource; develop online channels and the information technology systems; restructure loans via repayment to financial institutions, and as working capital. The move is aimed at strengthening and enhancing continuous potential and sustainable growth the in the future.
ONEE's three major shareholders after the IPO are Poramaporn Prasarttong-Osoth (40.04 percent), GRAMMY (25.02 percent) and Takonkiet Viravan group (13.49 percent). The IPO price, based on a book building process, was equivalent to the price-to-earnings ratio (P/E ratio) of 23.20 times. The earnings per share is equal to THB 0.37, calculated from the company's net profit for the past 12 months (from July 1, 2020, to June 30, 2021), divided by fully diluted shares. The company's dividend policy is to pay no less than 40 percent of net profit from its consolidated financial statements after tax and reserves. The dividends must not exceed its retained earnings as recorded in the company's separate financial statement. (As of June 30, 2021, the company still had an accumulated loss of THB 148.86 million in its separate financial statement. Therefore, the company is required to omit dividend payment until the accumulated loss has been wiped out. However, the company expects to remove the accumulated loss within the fourth quarter of 2021).
For more information on ONEE, 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.theoneenterprise.com, and www.set.or.th.