Bangkok: The Market for Alternative Investment (MAI) is set to welcome IndiG Public Company Limited (IDG) as it begins trading under the Technology group on October 24.
According to Thai News Agency, IDG, a full-service digital transformation consultant and developer, will list on the mai using the ticker symbol “IDG”.
Mr. Prapan Charoenprawat, Managing Director of the mai, confirmed the listing and trading date, highlighting IDG’s services, which encompass digital system design and development, AI transformation consulting, and customized technological solutions. IDG partners with global giants like Microsoft Corporation and is known for its expertise in Microsoft 365, Microsoft Azure, Adobe Cloud, and Nintex. The company also boasts proprietary software products such as WORK+, BIZ+, LIFE+, and 365+, catering to a diverse clientele in sectors like finance, technology, healthcare, and food and beverage.
In preparation for its IPO, IDG has set a paid-up capital of 50 million baht, offering 28 million new ordinary shares priced at 3 baht per share, aiming to raise 84 million baht. With a total securities value of 300 million baht at the IPO price, the offering is calculated at a price-to-earnings ratio of approximately 17.65. UOB Kay Hian Securities (Thailand) Public Company Limited is acting as the financial advisor and lead underwriter for the IPO.
CEO Mr. Witan Chuacharoensiri stated that IDG’s 25 years of experience and its status as a Microsoft Gold Certified Partner since 2006, underline its capability to develop solutions tailored to business needs. The capital raised will be allocated towards product research, office expansion, and working capital to further enhance their digital service offerings.
Post-IPO, major shareholders include ICBG Co., Ltd. with 28.80%, Mr. Witan Chuacharoensiri with 24.91%, Ms. Worapan Chuacharoensiri with 13.97%, and Ms. Woranee Chuacharoensiri with 4.32%. The company has committed to a dividend policy of not less than 40% of net profit, after legal and regulatory deductions.