mai President Prapan Charoenprawatt said SRS will be listed and start trading on mai in the Technology industry group.
SRS excels in providing organizations with consulting, design and development services related to information technology systems. Its services are based on the DevOps (Development & Operations) methodology and the Microservices architecture for system and software development which result in fast deliveries and efficiency. The company's wholly-owned subsidiary, SRS Integration Co., Ltd., offers cyber security consulting and system development services, supplies IT personnel and provides all relevant services. The group of companies is a partner of leading product manufacturers including Red Hat, Oracle, Dynatrace and Huawei. Its main clients are in the business sector and among them are financial institutions and retail groups. In the first six months of 2023, services generated 63 percent of the total revenue of the group of companies while sales made up 37 percent. SRS has backlog amounting to THB 526 million.
SRS has a paid-up capital of THB 80 million, consisting of 120 million existing common shares and 40 million newly issued shares, with a par value of THB 0.50 each. The company offered all newly issued shares to persons at underwriters' discretion during October 2-4, 2023, at THB 16 each for a total fundraising amount of THB 640 million. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 38.37 times. The earning per share is equal to THB 0.42, which was calculated from the company's net profit of THB 66.72 million in the four previous quarters (from July 1, 2022, to June 30, 2023), divided by fully diluted shares. Pioneer Advisory Co., Ltd. is the financial advisor and CGS-CIMB Securities (Thailand) Co., Ltd. is the lead underwriter.
SRS Chief Executive Officer Siriwat Thanurawet said the company has specialized in system and software development based on DevOps and Microservices for over seven years. Its teams and personnel are experienced, and they have been trained at international levels and received certificates from product owners. They are capable of completing jobs in a timely manner to cater to needs and budgets of clients with efficiency and then help sharpen competitiveness. The proceeds arising from the fundraising will be used to develop and improve software for internal use, recruit and train new employees in software development, expand its office area to improve service potential, and as working capital.
SRS's major shareholders after the IPO are the Siriwat Thanurawet's group (74.25 percent) and Nattapon Tanatechawong (0.75 percent). The company's dividend policy is to pay at least 50 percent of net profit from its separate financial statements after corporate income tax and reserves.
For more information on SRS, 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.sirisoft.co.th and www.set.or.th.
Source: SET Corporate Communications