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Bangkok, Thailand - 22nd May 2008 - Asiasoft Corporation Public Company Limited has appointed DBS Vickers Securities (Thailand) Company Limited as the lead underwriter for the company's initial IPO offering of 75 million shares. Five other leading securities firms, namely SCB Securities Company Limited, Bualuang Securities Public Company Limited, KTB Securities Limited, BFIT Securities Public Company Limited and Globlex Securities Company Limited, will also act co-underwriters for the IPO.
The shares will be offered under the IPO scheduled from 20 to 22 May 2008 at the price of Baht 12 per share. According to Mr. Pramoth Sudjitporn, CEO, Asiasoft Corporation Public Company Limited, the company is seeking to raise total proceeds of Baht 900 million in capital through this exercise.
Mrs. Pattera Dilokrungthirapop, DBS Vickers Securities (Thailand) CEO revealed "Due to overwhelming interest from local and international investors, the IPO received oversubscription of more than three times the offered amount. The warm responses from investors clearly reflect their confidence in the Asiasoft's strong business prospects and its high growth potential. This has led us to set the offering price at Baht 12 per share, an amount that will benefit investors. We hope that this IPO will generate strong interest and response from the investors."
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Mrs Pattera added, "Asiasoft's shares present a great business potential following the company's strong profit-making prospects and the growing trend of the online gaming industry. The company's strength lies in its evident leadership in Southeast Asia's online gaming industry, with its efficient and diverse investment planning in the region. Furthermore, under a highly efficient online game service structure, the online gaming business can generate a strong and continual cash flow. Being a veteran in this gaming industry, Asiasoft has achieved much success. From a humble computer gaming company with just Baht 5 million in capital in 2001, Asiasoft has become a leading player in Southeast Asia's online gaming and entertainment industry with over Baht 1.5 billion of total earnings and Baht 316 million registered capital within six years. Asiasoft has also achieved robust growth that shot the company's net profits from Baht 126 million in 2006 to Baht 254 million in 2007."
Mr. Pramoth has disclosed that the purpose of this IPO is to raise capital required for the expansion of the company's online gaming businesses in Vietnam and Malaysia, investment of software upgrades for higher service efficiency, procurement of more game copyrights and increment of the working capital of the company.
"So far, our IPO has gained an enormous interest from many large institutional investors. We have accepted Lombard Asia III, an international fund managed by Lombard Investment, Inc., to be our strategic partner on the terms that Lombard Asia will hold about 10% of Asiasoft's paid-up capital after the IPO," commented Mr. Pramoth. Currently, Asiasoft has a total registered capital of Baht 316 million consisting of 316 million shares at a par value of Baht 1. Paid-up capital stands at Baht 225 million. After the offering of another 75 million shares to the general investors through the IPO, the company's paid-up registered capital will increase to Baht 300 million. The remaining 16 million shares comprising of 16 million ordinary shares at Baht 1 par value each will be allocated to the employee stock option plan.
Investors who are interested to subscribe to Asiasoft's IPO shares can obtain the prospectus and subscription forms via DBS Vickers Securities (Thailand) as well as the other five securities firms. All IPO shares will be enlisted and floated for trading in the Stock Exchange of Thailand on 29 May 2008 under the stock symbol of 'AS.'
Past performances of Asiasoft Corporation Public Company Limited
Since the launch of its first online game service in 2003, Asiasoft has seen its performances grow continuously with its Compound Annual Growth Rate (CAGR) gross income and net profit now at 33.2% and 191.9% per annum respectively. In 2007, Asiasoft earned a gross income of Baht 1,559 million and a net profit of Baht 128 million. As compared to its earnings in 2006, Asiasoft's gross income has increased by 47.4% and its net profit has risen by nearly 102%. This dramatic growth is attributed to the company's success in the online gaming field, where its products have effectively served the needs of different consumer segments and helped expand the company's existing customer base. Asiasoft has not only achieved success in Thailand, but also in the SEA region.
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About AsiaSoft Corporation Public Company Limited
Established in 2001, AsiaSoft Corporation Public Company Limited, a leading online entertainment provider in Southeast Asia, focuses on the provision of online gaming services to Thailand, Singapore, Malaysia and Vietnam. The company also has affiliates involved in international investment, computer and online game development and game portal services.
Currently, AsiaSoft offers twelve online games in four countries, namely Thailand (seven games), Singapore (five games), Malaysia (five games) and Vietnam (six games) and boasts more than 8.2 million registered gamers in these countries. Its most famous games are CABAL, Ragnarok, Audition Dance Online, MapleStory and Yulgang.
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