GRAND PRIX International (GPI), the organiser of Bangkok International Motor Show and Bangkok Used Car Show, yesterday announced plans to issue up to 100 million shares through an initial public offering (IPO) and list on the Stock Exchange of Thailand by the end of this year.
The company sees great potential for auto exhibitions and trade fair events in Thailand, as well |as its print and new media businesses. The company plans to expand its auto exhibition and trade fair businesses abroad, as well as roll out marketing activities in other potential industries. It also has a policy to buy upgrade its printing machines.
Montree Sornpaisarn, the chief executive officer of Maybank Kim Eng Securities (Thailand) who will be financial advisers for the IPO, said that currently GPI has Bt300 million in registered capital comprising 600 million ordinary shares with par value of Bt0.50 each. The paid-up capital is Bt250 million. The company will issue not more than 100 million new shares to the general public through the IPO for the first time.
The listing is aimed at mobilising funds to invest in improving the company’s printing facility as well as provide working capital.
GPI has three major businesses: organising exhibitions, trade fairs and marketing activities; print and new media business; and providing printing service.
GPI chief executive Prachin Eamlumnow said the company has experience of more than 47 years publishing the Grand Prix auto magazine, and it has been hosting the motor show event, – now called Bangkok International Motor Show – since 1979.
“We aim to be the leaders in innovation in offering information, news and entertainment content, and hosting integrated activities related to auto industry and lifestyle. We are confident of its potential even amid the challenging circumstances. We will continue to scout for new opportunities to maintain sustainable growth,” he said.
GPI posted Bt631.16 million in total revenue in the first six months of this year, up 1.1 per cent from the Bt624.16 million posted in the first half of last year. The company earned Bt186.90 million net profit in the first six months of this year, up 8.24 per cent compared to Bt172.68 million achieved in the same period of last year.
Chief operating officer Jaturont Komolmis said that last year, about 83 per cent of the company’s revenue was from organising auto exhibitions and trade fairs, as well as marketing activities.