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Baht/$ 34.12/17 (Bid/Ask)
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GOLD |
13750
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MARKETS
DARANA CHUDASRI
Bandit Center, the owner of the popular Thai-language internet portal Kapook.com, will list on the Market for Alternative Investment in 2009.
Paramet Minsiri, managing director of Bandit Center, said the company will be the second internet listing on the exchange after Siam2You, but the first web-based content applications develodhper in the market.
The company signed an agreement yesterday with K-SME Venture Capital, a subsidiary of Kasikornbank, to receive 20 million baht in seed capital in exchange for a 16.67% shareholding.
Bandit Center now has 48 million baht in paid-up capital after the transaction, with 4.8 million shares outstanding at 10 baht par value.
Revenues last year totalled 34 million baht from its three core businesses of website advertising and marketing solutions, enterprise Internet solutions and other value-added services.
The new capital will be used to expand the company's infrastructure and for developing new mobile and web applications in preparation for the launch of third-generation mobile phone services over the next several years.
Mr Paramet said 3G phones would ''change people's lifestyle and open huge opportunities for mobile, web-based content applications''.
He declined to offer financial details about the company, saying only that Bandit Center expects double-digit profit and revenue growth for 2009.
Sompop Sakphanpanom, chief executive officer of financial advisor Asset Pro Management, said Bandit Center would likely split its par value to 0.25 to 0.5 baht per share to increase the number of registered shares to nearly 100 million.
A share split would help improve trading liquidity once the company enters the exchange, he said.
Kapook.com is the country's second-largest Thai-language web portal after Sanook.com. Kapook claims four million page visits and 400,000 unique visitors per day.
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