Thailand Business Roundup 4


Thailand Business Roundup

IPO for Netbay

Thailand’s integrated e-logistic developer Netbay is hoping to raise 160 million baht from its initial public offering (IPO), which was launched on 17 June. The company has offered 40 million shares at an issue price of four baht each. The number represents 20 percent of Netbay’s total capital and are being offered at a 34 percent discount to Netbay’s current price earnings.

The capital raised from the IPO would be used to try and grow the business by 20 percent in revenue this year, from 223 million baht in 2015.

Internet Thailand Pcl (INET), Thailand’s leading ICT infrastructure services provider and a 25 percent stakeholder in Netbay, said it had no plans to sell its share.

Netbay’s services include private cloud computing on a 24-hour basis as a single business information gateway for business-to-government, business-to-business and business-to-customer transactions.

It provides an omni-channel connectivity gateway that covers data processing and backup, operating systems for data exchange, data networking and security systems, which facilitate and enhance the speed of customers’ business processes and reduce red tape and the costs associated with electronic, paperless data exchange.


WHA to raise capital

The warehouse and factory developer WHA Corporation recently gave permission for its real estate investment trust, WHA Premium Growth

Freehold and Leasehold Real Estate Investment (WHART), to raise capital and invest in assets valued at up to 4.19 billion baht.

The assets consist of two WHA Mega Logistics Centres, one in Samut

Prakarn province, with a total leasing space of 28.8 acres, and the other in Bangkok, with total leasing space of 38.65 acres.

WHART is one of Thailand’s largest warehouse and distribution centre trusts, with total assets of over nine billion baht.

It currently has 661.67 units with a par value of 9.63 baht each. It has invested in six projects including the WHA distribution centre in Ladkrabang (phase one and two) and WHA Mega Logistics Centres across four locations.

This follows the company’s takeover of Hemaraj Land and Development last year and the regrouping of its businesses.

The WHA group has about 30 percent of the market with eight operating industrial estates and four in development.


Minor sells shares

William Heinecke, the American-born CEO of Minor International Pcl, recently sold 14 percent of his shares in the company to the Chinese asset management firm Zall Holdings.

Following the stake disposal, Heinecke’s holdings will come down to 2.73 percent.

The company issued a statement noting the transaction was for the purpose of internal restructuring the family assets and would not result in any change in management policies and operations.

Minor International is the leading hospitality and leisure company in the Asia Pacific region with over 140 hotels and resorts,1,800 restaurants and 307 retail trading outlets across 32 countries.