mai welcomes system integrator “I2” on Aug 8

Editorial Staff

mai welcomes system integrator “I2” on Aug 8

Market for Alternative Investment (mai) will list I2 Enterprise pcl, an end-to-end system integrator, on August 8 under the ticker symbol “I2”. The company has a market capitalization at its initial public offering (IPO) of 1.13 billion baht (approx. USD 33.18 million).

mai president Prapan Charoenprawatt said I2 will be listed and start trading on mai in the Technology industry group.

I2 provides end-to-end system integration (SI) services which cover consulting, design, procurement, installation and distribution of products and equipment for communications, telecommunications and information technology systems. Its business activities fall into two categories : 1) information and communication technology (ICT) projects such as information technology infrastructures, digital transformation and energy-saving solutions and 2) Satellite internet services. The company has strong business partnerships with leading equipment manufacturers and network software developers including Cisco, Oracle, Nutanix, and Huawei. In the first quarter of 2023, the company generated about 80 percent of its total revenue from sales and services for ICT projects and about 20 percent of the revenue came from internet services, with governmental organizations and state enterprises as main clients.

I2 has a paid-up capital of 210 million baht , consisting of 300 million existing common shares and 120 million newly issued shares, with a par value of 0.50 baht each. The company offered up to 18 million newly issued shares to its patrons, up to 12 million shares to its directors, executives and employees and 90 million shares to persons at underwriters’ discretion during July 25-27, 2023, at a price of 2.70 baht each for a total of 324 million baht in fund raised.

The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 20.11 times. Earnings per share is equal to 0.13 baht, which was calculated from the company’s net profit of 56.40 million baht over the past four quarters (from the second quarter of 2022 to the first quarter of 2023), divided by fully diluted shares. S14 Advisory Co., Ltd. is the financial advisor while Yuanta Securities (Thailand) Co., Ltd. is the financial advisor and the lead underwriter.