The One Enterprise Plc, Thailand's leading full-service media and entertainment company, is set to raise 4.2 billion baht from its initial public offering (IPO).
The company said 496 million shares, with the ticker symbol ONEE, will be priced at the high end of the initial range at 8.5 baht. The shares' total market cap is expected to rise to approximately 20.2 billion baht on the first day of trading on the Stock Exchange of Thailand on Nov 5, according to the company's announcement.
Anuwat Ruamsuke, a managing director and head of the capital markets department at Phatra Securities, a financial adviser and underwriter of the IPO, said the company was able to set the final price at 8.50 baht thanks to great interest from institutional investors both in Thailand and abroad who see ONEE's potential as a leading creator and producer that offers a variety of programmes that can reach diverse audiences.
Takonkiet Viravan, ONEE's chief executive, said the proceeds from the IPO will be used to build up the company's financial stability and future growth potential. In addition, he said it would enhance the production of diverse and quality content that matches consumers' changing tastes and behaviours both through offline and online channels such as the ONE31 channel and other over-the-top platforms.
Mr Takonkiet said ONEE aimed to use the funds raised to enhance the artists' and personnel's performance to improve the company's competitiveness and efficiency.
He also said ONEE is intent on bringing more Thai content to the world stage.
"I believe that ONEE will be a quality stock that will help revitalise investors' interest in the media and entertainment business, which has been battered by the pandemic," he said.
"With an improving pandemic situation and media consumers' changing behaviour, the market players that have quality content and all-encompassing broadcast channels will flourish and, most importantly, penetrate the global market through quality Thai content."
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