<article>Thailand based IT-products wholesaler and retailer <a style="color: #000080;" href="http://www.comseven.com/">Com7 PCL</a> today announced that it plans to raise 1.055 billion baht ($30.23 million) from selling 300 million shares at 3.35 baht apiece through its initial public offering (IPO).</article>

Thailand based IT-products wholesaler and retailer <a style="color: #000080;" href="http://www.comseven.com/">Com7 PCL</a> today announced that it plans to raise 1.055 billion baht ($30.23 million) from selling 300 million shares at 3.35 baht apiece through its initial public offering (IPO).
Of the IPO shares (par value of 0.25 baht), 56 per cent will be offered to the public, 21 per cent to institutional investors and 23 per cent to VIP. The IPO will be launched on July 31 – August 4 and the company will start trading on the Stock Exchange of Thailand on August 10.
Kongkiat Opaswongkarn, CEO of <a style="color: #000080;" href="http://www.asiaplus.co.th/">Asia Plus Securities</a>, a financial advisor and lead underwriter of this IPO, said that Com7 has healthy fundamentals and its IPO price is attractive at a discount of 39 per cent.
Addressing media at the <a style="color: #000080;" href="http://www.set.or.th/">Stock Exchange of Thailand</a>, Com7’s chief executive officer Sura Khanittaweekul said that around 300 million baht of the IPO proceeds would go toward business expansion, 500 million baht for debt repayment and the rest 205 million baht for investment in the future.
The company plans to open 38 retail branches this year, adding to the current count of 317 branches, and also plans to develop its e-commerce distribution channel. Meanwhile, its affiliated retailer Mango Mobile will also increase its tore count by 20, in 2015.
The CEO said that the company would focus more on expanding in the ASEAN after its initial joint venture with local partner, to open two BaNaNa IT shops in Myanmar.
“We will tap into the corporate market. Many property developers contact us to purchase big lots of products. But our financial liquidity is too tight. After raising fund from IPO, we will be able to serve this group of customers, which will drive our growth considerably,” he said.
The revenue is projected to grow by 5 per cent from 14 billion baht last year thanks to its aggressive expansion.
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Thailand’s leading IT-products wholesaler and retailer Com7 PCL today announced that it plans to raise 1.055 billion baht ($30.23 million) from selling 300 million shares at 3.35 baht apiece through its initial public offering (IPO).

Thailand's leading IT seller COM7 to mobilise $30m from IPO

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