mai President Prapan Charoenprawatt said I2 will be listed and start trading on mai in the Technology industry group.
I2 provides end-to-end system integration (SI) services which cover consulting, design, procurement, installation and distribution of products and equipment for communications, telecommunications and information technology systems. Its business activities fall into two categories : 1) information and communication technology (ICT) projects such as information technology infrastructures, digital transformation and energy-saving solutions and 2) Satellite internet services. The company has strong business partnerships with leading equipment manufacturers and network software developers including Cisco, Oracle, Nutanix, and Huawei. In the first quarter of 2023, the company generated about 80 percent of its total revenue from sales and services for ICT projects and about 20 percent of the revenue came from internet services, with governmental organizations and state enterprises as main clients.
I2 has a paid-up capital of THB 210 million, consisting of 300 million existing common shares and 120 million newly issued shares, with a par value of THB 0.50 each. The company offered up to 18 million newly issued shares to its patrons, up to 12 million shares to its directors, executives and employees and 90 million shares to persons at underwriters' discretion during July 25-27, 2023, at a price of THB 2.70 each for a total of THB 324 million in fund raised. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 20.11 times. Earnings per share is equal to THB 0.13, which was calculated from the company's net profit of THB 56.40 million over the past four quarters (from the second quarter of 2022 to the first quarter of 2023), divided by fully diluted shares. S14 Advisory Co., Ltd. is the financial advisor while Yuanta Securities (Thailand) Co., Ltd. is the financial advisor and the lead underwriter.
I2 Chief Executive Officer Atiporn Limcharoen said the company is a leading integrated ICT service provider for government agencies and state enterprises because it is knowledgeable about and has insight into tasks of government agencies and state enterprises. Moreover, its personnel have expertise and experiences, and are able to listen to problems and recommend technology application for organizations to improve their operations and work processes. These services known as digital transformation which leads to new projects and solutions continuously. Proceeds arising from the fundraising will be used as working capital to serve customers' large-scale projects and for the company itself, and to invest in related business for growth.
I2's major shareholders after the IPO are Anchalee Kaewbunpot (39.5 percent), MFEC pcl (15.0 percent), Phaithoon Pramounchaikun (9.03 percent), and Yutthachai Toonpun (7.9 percent). The company's dividend policy is to pay at least 50 percent of net profit from its separate financial statement after corporate income tax, legal reserves, and other reserves.
For more information on I2, 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.i2enterprise.com and www.set.or.th.
Source: SET Corporate Communications