The Stock Exchange of Thailand (SET) will list ?G-Able pcl, a total technology and digital solution service provider, on May 9 under the ticker symbol "GABLE". The company has a market capitalization at its initial public offering (IPO) of THB 4.47 billion (approx. USD 130.97 million).
SET Senior Executive Vice President Manpong Senanarong said that GABLE will be listed and start trading on Information & Communication Technology sector, Technology industry group.
GABLE has provided the end-to-end technology and digital solution service for leading organizations in various industries for 33 years, focusing on enterprise solution and services, which is highly demanded in the Digital transformation age, such as Cyber Security, Cloud and Data Center, Data analytic and Managed Tech Services. The company is also a distributor of the world-famous technological system products including Oracle and Veritas as well as providing Software Platform system service, developed by the company, which is also the patent owner, for business value added. As of December 31, 2022, the company had backlog worth THB 4.05 billion, of which revenue will be recognized between 2023 and 2027.
GABLE has a paid-up capital of THB 700 million after the IPO consisting of 525 million existing common shares and 175 million newly issued shares for IPO, with a par value of 1 THB. The company offered 70 million shares to institutional investors, 61.25 million shares to the persons pursuant to discretion of the underwriters, 25.60 million shares to directors, executives and employees of the company and its subsidiaries, and 18.15 million shares to its patrons during April 26 - 28, 2023 at THB 6.39 each for a total of THB 1.118 billion in fund raised. The IPO price has been determined based on the book building process, with the price-to-earnings ratio (P/E ratio) of 16.82 times. The earning per share is equal to THB 0.38, which was calculated from the company's net profit over the past four quarters, between January 1, 2022 and December 31, 2022, divided by fully diluted shares. Finansia Syrus Securities pcl is the financial adviser and the lead underwriter.
GABLE Chief Executive Officer Chaiyuth Chunnahacha said that listing on SET will support the company growth according to the set strategies in terms of both business and driving society, strengthen the company's competitive capability, and create a long-term value towards a Thailand leading technology digital company. The fund raised will be used to invest in potential related business and the company's owned patent technology platform business to keep pace with the company's group growth, repay loans, and as working capital.
GABLE's three largest shareholders after the IPO are 1) the Liuchareon group (21.58 percent), 2) the Uahwatanasakul group (20.04 percent), and 3) the Chansue group (16.31 percent). The company's dividend policy is to pay at least 50 percent of net profit from separate financial statements after tax and legal reserves.
For more information on GABLE, 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.g-able.com and www.set.or.th.