Thai insurance firm ASN Broker, Advance Finance file for IPO

Thai companies including ASN Broker and Advance Finance have submitted their first filings to launch initial public offerings (IPOs) this year.

Thai insurance firm ASN Broker to tap into fintech after IPO

After raising funds through its maiden offering, Thailand’s non-life insurance firm ASN Broker is planning to utilise the proceeds to develop its database and online system to stay competitive in the digital era.

Through IPO, it will sell 30 million shares, equivalent to 23.1 per cent of its registered and paid-up capital, at a par value of 0.50 baht per share.

The company’s managing director Thawatchai Chewanont told the media last week that the Office of Securities and Exchange Commission (SEC) has already approved its first filing and it is expected to get listed on the Market for Alternative Investment before June.

“The non-life insurance has grown continuously. Therefore, we plan to increase the number of sales agents and develop the online platform to expand our customer base and become one of the leading non-life insurance firms in Thailand,” he told DEALSTREETASIA.

According to Commerce Ministry’s Department of Business Development, the value of e-commerce business in Thailand was worth around 200 billion baht last year and it is forecast to surge by 20 per cent to around 240 billion baht in 2016.

In 2015, ASN Broker reported total revenue of 161 million baht and the net profit of 25 million baht. The debt-to-equity ratio is 0.68 times.

Thai financial firm Advance Finance to list on SET

Advance Finance Pcl, Bangkok-based financial advisor and fund manager, plans to raise funds through an IPO by offering 350 million shares, accounting for 26 per cent of its registered capital, this year.

The par value is 1 baht per share and the book value is 1.21 baht each, according to the company’s filing.

As of April 5 this year, it has a registered capital of 1.35 billion baht, divided into 1,350 shares. The capital has been paid for 1 billion baht and will be fully paid up after IPO.

The first three largest shareholders comprise Singapore-based IFS Capital Limited, Seamico Securities and Brooker Group.

The company posted net profit of 31.32 million baht, 33.4 million baht and 95.06 million baht, respectively, during 2013-15. The profit margin was up from 23.64 per cent in 2013 to 34.64 per cent in 2015.

KT Zmico Securities is a lead underwriter and Advisory Plus is a financial advisor for this IPO.

Also read:

Thai general insurance firm ASN Broker to launch IPO next year

Thai renewable energy firm BCPG files for IPO to mop up over $85m

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.