TBN’s stock soared above the offering price. It closed the first day of trading increasing by 147.06% from the IPO price of 17 baht.
On 19 June 2023, TBN entered the trading market with its stock price soaring above the offering price. This was due to investor confidence in the business, aiming for a 40% growth in revenue in fiscal year 2023, in line with the software market industry of Low-code solutions and customer expansion plans, supporting consistent good performance. Mr. Panayu Sirikrachangsri, CEO of TBN Corporation Limited, revealed that the company was pleased with the stock’s debut on the mai and the strong market opening. He expressed gratitude to the investors who had faith in the business, and the company will remain dedicated to continuous development and growth. This year, the company has set a revenue target of 450-460 million baht, representing a 40% growth from the previous year. The factors contributing to this growth include the expansion of the Low-code software market industry and customer group expansion. Additionally, the company’s recurring income accounts for over 50% of the total income. As of the end of the first quarter of 2023, the company had a backlog of approximately 300 million baht in projects, which will generate revenue in the current year and in 2024. The company is prepared to utilize the raised capital of 425 million baht for working capital in business expansion, including enhancing competitiveness and capacity, as well as building additional IT personnel. Furthermore, in collaboration with the Digital Economy Promotion Agency (depa) and Kasetsart University, Sriracha Campus, TBN is actively promoting and supporting the development of digital industry personnel and digital skill development through the “TBN Mendix Academy” project, with a goal of creating an additional 1,000 personnel by 2026 to meet the growing opportunities in the technology market. For long-term business plans, the company continues to explore other technologies to develop new solutions and increase sales in existing customer…
TBN is ready to trade on the mai on June 19th.
“TBN Corporation Plc., also known as TBN, announced the ringing of the opening bell for trading on the Market for Alternative Investment (mai) on June 19th. Teerachat Sinlapsanont, the CEO of Finance Asia, and Veeraya Siriwan, the CEO of CGS-CIMB Securities (Thailand), as Lead Underwriters, revealed the results of the subscription, with investors sweeping up 25 million shares, demonstrating confidence in the company’s growth potential. They specified the IPO price at 17 baht per share, considering it reasonable. Meanwhile, Monthana Leelaviwat, the CFO of Pioneering Solutions Company Limited, expressed that this capital raising exercise strengthens the company’s capital base, competitiveness, and enables new investments. Panya Sirikrachangsiri, the CEO of TBN, also highlighted the opportunity for investors and the public to participate in the company’s success, with a vision to become a leader in developing and providing highly acclaimed Digital Solutions in Asia, fostering sustainable business growth. Teerachat Sinlapsanont, the Director of Finance Asia, and the co-manager of the offering, disclosed that after the initial public offering (IPO) of 25 million common shares at a price of 17 baht per share, which took place between June 12th and June 14th, 2023, TBN shares garnered significant investor interest due to confidence in the company’s growth potential. This follows the presentation of information (Roadshow) to investors. Veeraya Siriwan, the Head of Corporate Finance at CGS-CIMB Securities (Thailand) and the co-manager of the offering, stated that the IPO price of 17 baht was considered appropriate. TBN offered 25 million IPO shares at a par value of 0.50 baht per share, representing 25% of the total issued and paid-up ordinary shares after the completion of the previous ordinary share capital increase. It is anticipated that the shares will begin trading on the mai market on June 19th, 2023, in the Technology sector. Panayu Sirikrachangsiri, the…
TBN reveals a strong IPO wave of 25 million shares with overwhelming response on the first day of subscription.
“Panayu Sirikrachangsri,” the CEO of TBN Corporation Limited, announced that the company’s IPO shares have received significant interest from investors. The initial offering to retail investors on the first day resulted in an overwhelming amount of subscription requests. This reinforces the confidence in TBN as one of the leading technology companies in Thailand. The capital raised from the fundraising will be used as working capital to expand the business, enhance competitiveness, and support the increasing trend of digital transformation. It will be utilized for projects developing digital systems, increasing personnel, and improving various facilities to accommodate the growing number of projects and employees. This important step is believed to support TBN’s significant growth. Regarding “Teerachat Sinlapsanthayarn,” the Managing Director of Finansa Limited, and “Veeraaya Sriwatthana,” the Head of Wealth Management Division at CGS-CIMB Securities (Thailand) Limited, as the two leading distributors and underwriters, they also emphasized the attractiveness of TBN as a leader in the Low-Code platform in Thailand. The IPO price was set at 17 Baht per share, which is considered reasonable based on the fundamental factors of the company. This led to significant interest from retail investors who eagerly subscribed on the first day.As for financial advisors, “Deuanphan Leelaviwat,” the CEO of Pioneer Advisory Company Limited, concluded that TBN is a technology stock with significant growth potential that aligns with the overall industry and investment in IT and software in Thailand. This will drive the business towards a complete digital world. Therefore, the Low-Code platform will be another answer for new-age businesses, and providing digital solutions will make TBN a potential and well-received stock in the long run.
TBN sets IPO price at 17 baht per share, open for subscription on 12-14 June
TBN Corporation- A leader in Thai Low-Code, TBN accelerates Digital Transformation. “TBN Corporation Limited (TBN),” the leading Low-Code provider in Thailand, announced the IPO price at 17 baht per share and scheduled the subscription period for June 12-14. The trading is expected to begin on the mai market on June 19. The capital raised will be used to support business expansion plans, enhance and develop personnel, and establish TBN as a leader in the development and provision of end-to-end Digital Solutions. TBN is recognized as a leading Low-Code provider with over 15 years of experience. Recently, TBN signed an agreement for the initial public offering (IPO) of 25 million common shares, representing 25% of the total issued and fully paid-up ordinary shares of the company. The IPO is under the management and joint distribution of Finansa Securities Public Company Limited and CGS-CIMB Securities (Thailand) Co., Ltd., along with senior executives from securities companies and financial consultants. Mr. Teerachat Sinlapsanont, Managing Director of Finansa Securities Public Company Limited and joint manager and underwriter of TBN’s IPO, revealed that TBN has set the IPO offer price at 17 baht per share. The subscription period will be open from June 12-14. It is expected that the stock will commence trading on the Market for Alternative Investment (mai), under the Technology (TECH) sector, on June 19, 2023, with the stock abbreviation “TBN.” The offer price of 17 baht per share is considered reasonable, highlighting TBN’s interesting strengths as the leading provider of Low-Code platforms, a trend in the new business era that requires rapid development of software applications. Additionally, with over 15 years of experience and a team of experts in software development services, TBN is well-positioned to expand its market and meet customer needs, driving strong growth in the digital era. Ms. Veeraya…
TBN Partners with Depa – Kasetsart University to Launch Low-code Course by Mendix Academy
Mr. Panayu Sirikrachangsri, CEO of TBN Corporation Limited, and Assoc. Prof. Dr. Natthapon Nimmannaphatcharin, Director of Digital Economy Promotion Agency (Depa), together with Assoc. Prof. Dr. Sathaporn Cheupeng, Dean of the Faculty of Engineering at Kasetsart University, posed for a commemorative photo during the signing ceremony of the collaboration to promote and support the development of digital workforce and digital skills transformation towards the digital era. The event took place at the Agricultural Cultural Museum, Kasetsart University, Bang Khen Campus, recently. TBN Corporation Limited, as the most experienced Low-code service provider in Asia with over 15 years of proven track record, is the exclusive distributor of MENDIX License software in Thailand. Partnering with Siemens, a global technology leader, TBN has gained recognition for its success from international corporate clients and leading industries in the country. TBN Corporation Limited aims to promote the development of Low-code professionals in Thailand to support the country’s establishment as a regional Low-code hub. This will be achieved through training with the standardized courses provided by Mendix Academy and the opportunity to take international certification exams. These initiatives will help create a digitally skilled workforce to efficiently meet the hiring needs of the digital industry. Furthermore, it aligns with the global trend of expanding Low-code technology as an accelerating tool for digital transformation. Regarding this collaboration, the goal is to develop a Low-code workforce to meet the demands of the industrial sector in the country. In the first year, the target is to train more than 100 individuals, with a projected increase to 1,000 individuals within a three-year timeframe. It is estimated that this initiative will generate an economic value for the country of no less than 10 billion baht per year. TBN x Depa x KU -MOU TBN x Depa x KU TBN x Depa…
“TBN” gears up for a roadshow ahead of its upcoming IPO
“TBN Corporation Limited,” a leading technology company in the country that provides comprehensive digital transformation solutions, delighted investors with its recent roadshow. The event showcased the company’s business fundamentals and growth opportunities in the digital transformation era. This roadshow is a prelude to the planned IPO of 25 million shares. TBN aims to raise capital to support its digital transformation initiatives, expand its business, and enhance its service offerings. It aspires to be a frontrunner in developing and providing end-to-end digital solutions, recognized as the top provider in Asia. The company’s vision aligns with its strategy of leading business development and driving growth through low-code and AI-driven approaches, while elevating the business ecosystem to regional levels. Mr. Panayu Sirikrachangsri, CEO of TBN Corporation Limited, revealed that the company presented its business information during the roadshow on May 26, 2023, to provide investors with insights into its operations, strengths, and future growth prospects before the IPO. This IPO represents another significant milestone in supporting TBN’s growth strategy and its vision to become a leader in developing and delivering comprehensive digital solutions. The company is dedicated to utilizing low-code and AI-driven approaches and driving digital transformation to elevate its partners’ businesses to regional levels. Furthermore, the company plans to expand its workforce to accommodate the growing demand for Digital Solution Services, which is expected to increase in the future as more organizations prioritize technology adoption. Emphasizing the importance of cost control in service provision, TBN has established the TBN MENDIX Academy to efficiently and sustainably manage its long-term business operations. In terms of financial performance, TBN reported revenues of 360.55 million baht and an initial profit from services of 102.39 million baht in the fiscal year 2022. The initial profit margin was 28.40%, and the net profit was 35.56 million baht. The…
“TBN,” the new tech stock, is ready for an online IPO roadshow
“TBN,” the new tech stock, is gearing up for an online IPO roadshow. Emphasizing its leadership in the Low-Code sector in Asia, TBN is ready to make a strong impact. As a leading provider of digital design and development powered by Low-Code technology, TBN offers digital transformation consultancy services and develops tailored solutions to meet customer needs. Their primary software foundation is the Low-Code Development Platform (LCDP) from MENDIX. This technology growth aligns with the current era of Digital Disruption, as Low-Code is poised to rapidly and efficiently transform the business world through the development of applications, websites, and digital solutions. Furthermore, TBN’s expertise is validated through its global partnership with Siemens, being officially appointed as the first authorized MENDIX License distributor in Thailand since 2008. TBN has achieved the highest recognition in Asia and continues to expand its growth momentum. During this event, the management team, led by “Panayu Sirikrachangsri,” CEO of TBN, will present the company’s vision, accompanied by “Duangpanan Leelaviwat,” Director of Operations at Pioneeria Advisory Co., Ltd., serving as financial advisor, and supported by the sales team, including “Teerachat Sinlaphasnat,” Banfinance, and “Veerya Sivathanawat,” CGS-CIMB Securities (Thailand). They will showcase the strengths of TBN and provide information to potential investors about the upcoming IPO of 25 million shares in the near future.
TBN Corporation Limited (TBN) is preparing to become a new subsidiary listed on MAI
TBN Corporation Limited (TBN) is preparing to become a new subsidiary listed on the Market for Alternative Investment (mai) after the Securities and Exchange Commission (SEC) began counting from February 25, 2023. Currently, TBN is in the process of preparing for its initial public offering (IPO), offering 25 million ordinary shares to the public for the first time. The company has appointed Pioneer Advisory Limited as its financial advisor. TBN is a digital full-cycle system design and development service provider. They offer digital transformation consultancy services and develop digital solutions tailored to the needs of their clients. They utilize the MENDIX Low-code Development Platform to facilitate the rapid and efficient development of applications, websites, and digital solutions, enabling Thai businesses to fully embrace digital transformation. MENDIX is a leading Low-Code Platform technology provider, chosen by over 4,000 organizations worldwide. It is recognized as a leader in Gartner’s Magic Quadrant for Low-Code Platform. TBN has been appointed by Siemens as an authorized reseller of MENDIX since 2008, being the first and only official reseller in Thailand. TBN’s services can be divided into two categories: System development and related services are the main revenue-generating services for the company. The development time for a system depends on its complexity, ranging from approximately 4-5 months for less complex systems to around 1 year for highly complex systems, as per contractual agreements. In terms of shareholding structure, TBN’s major shareholder is Mr. Panayu Sirikornjarn, the Chairman and Co-founder, holding 23.59% of the company’s shares. Rocket Holdings (HK) Limited, owned by BTS Group, holds 18.75% of the shares. Ms. Narisara Limthanakul holds 18.04% of the shares, and Mr. Therdphong Honghirunruang holds 8.32% of the shares. Looking at the company’s financial performance for the past three years (2019-2021), both revenue and profit have shown continuous growth. Revenue…
TBN is raising funds to expand its market and enhance the potential of its personnel.
TBN is raising funds to expand its market and enhance the potential of its personnel. Mr. Panayu Sirikrachangsri, CEO of TBN Corporation Limited, stated that TBN believes in the effectiveness of MENDIX’s Low-Code Development Platform in software development, which drives digital transformation. With over 18 years of experience in MENDIX technology, TBN offers a wide range of services in both cloud technology and traditional development (High Code). TBN caters to the needs of organizations by providing tailored solutions. Currently, TBN operates a comprehensive digital system design and development business, serving as a consultant in digital transformation and developing solutions according to customer requirements using Low-Code software. “We can use MENDIX to develop software at all levels. The strengths of Low-Code are its ease of learning and quality control system, which ensures developers meet the standard quality requirements. The objective of using Low-Code is to increase efficiency while utilizing fewer resources. The reason TBN wants to enter the stock market is due to the projected growth rate of Low-Code technology, which is expected to grow at an average annual rate of 25%. Meanwhile, the number of programmers worldwide is predicted to decline as organizations increasingly require digital transformation, resulting in a higher demand for applications. With fewer developers available, organizations seek technologies that can assist, and Low-Code is a suitable solution. Therefore, we want to make Thailand the Low-Code hub of Asia. Financially, it is projected that by 2025, 70% of global applications will be developed using Low-Code. Recently, TBN received the Top Mendix Partner in Asia Pacific and Top SaaS demand generated partner in Southeast Asia awards at the Siemens Converge Asia Pacific Executive Partner Forum 2023 (APEPF2023), confirming TBN’s success in the Thai market for Mendix Low Code.” Mr. Panayu further stated that for future growth, TBN plans to…
TBN, the new tech stock, organized an analyst meeting
TBN, the new tech stock, organized an analyst meeting to discuss its trading plan on the Market for Alternative Investment (mai) this year. Mr. Panayu Sirikrachangsri, CEO of TBN Corporation Limited, and Ms. Duangpan Lilaviwat, Managing Director of Pioneer Advisory Limited, financial advisors, welcomed the analyst team at the TBN Corporation headquarters recently. The purpose of the meeting was to present the company’s information and its growth strategy according to the planned capital raising through an Initial Public Offering (IPO) of 25,000,000 common shares. The company aims to have its shares listed on the Market for Alternative Investment (mai) within this year. This move is part of TBN’s technology business category, which includes raising funds through IPO and utilizing the capital to enhance its capabilities and competitiveness in design, development, and provision of Low-Code platform services. Additionally, the funds raised will be used for personnel development, supporting digital transformation trends that are on the rise.