Meb Corporation, an e-book distribution business, submitted an application for an offer of 75 million shares to the SEC in the hopes of using the money to expand its business in the platform.
MEP Corporation Public Company Limited which is an affiliated company central Submit a registration statement with the Office of the Securities and Exchange Commission (SEC) for an initial public offering (IPO) of not more than 75,000,000 shares with a par value of 0.50 baht per share and will be listed. In the Market for Alternative Investment (mai) with Bualuang Securities as a financial advisor
For the shares offered for this IPO, this is not more than 25% of the total paid-up shares of the Company. After the issuance and offering of newly issued ordinary shares, divided into:
- Not more than 22,500,000 newly issued ordinary shares with a par value of 0.50 baht per share.
- Existing ordinary shares offered by Two Bees (HK) Limited, not exceeding 39,375,000 shares, with a par value of 0.50 baht per share.
- No more than 13,125,000 ordinary shares offered by Brain Ventures Limited with a par value of 0.50 baht per share.
After this offering of all newly issued ordinary shares, the Company will have a paid-up capital of not more than 150,000,000 baht, divided into 300,000,000 ordinary shares with a par value of 0.50 baht per share.
fundraising objectives to be used for the expansion of businesses present on the platform (meb readAwrite and Hytexts), including but not limited to Buying new literary rights to sell on the current platform Purchasing the license of Webtoon or online comics to sell through the current platform. Improvements to the current platform to better meet the needs of customers.
as well as used for new business expansion related to the current business This includes but is not limited to online distribution of literature in foreign languages through online literature platforms. Online literature distribution in foreign languages through online literature platforms. It will also be used as working capital for business operations.
Meb Corporation is a leader in the business of selling electronic books (E-Book) in Thailand considering the total revenue. In addition, the Company also has other businesses such as distribution of electronic reading devices (E-Readers) and business to Digital library system platform service for enterprises (Hibrary) which operates through the Company’s subsidiary, Hi-Tex Interactive Company Limited (“Hytexts”).
The Company operates an electronic book distribution business (E-Book) through the meb and readAwrite platforms, which are Thailand’s leading online literature reading platforms. with distribution channels through the website www.mebmarket.com and www.readAwrite.com and the meb and readAwrite applications on different operating systems, both of which have different distribution of online literature. The meb platform sells a variety of online literature from publishers and independent authors such as novels, general books. (non-fiction) cartoons, magazines and newspapers, etc.
The readAwrite platform is a platform for the writer-reader community. By allowing members to post content or content by themselves (User Generated Content or “UGC”), the owner of the work can choose to sell his own work and/or let the reader donate to support
The structure of major shareholders before and after the IPO is as follows:
- B2S Co., Ltd. holds 153,780,000 shares, representing 55.42% after the IPO will reduce the proportion to 51.26%.
- Two Bees (HK) Limited, holding 54,345,000 shares, representing 19.58%, will be reduced to 4.99%
- Mr. Kittipong Saelim, holding 28,125,000 shares, or 10.14%, will be reduced to 9.38%.
- Mr. Rawiporn Mahasit 28,125,000 shares, representing 10.14%, will be reduced to 9.38%.
- Brain Ventures Limited owns 13,125,000 shares, or 4.72% after IPO, there will be no remaining shares.
B2S (B2S) is a subsidiary of COL Public Company Limited (COL) and Two Bees (HK) Limited is a company incorporated in Hong Kong. It has 100% B2S shareholders, while Brain Ventures Limited is a company incorporated in Hong Kong. Shareholders are Mr. Kittipong and Mr. Rawiorn in the proportion of 50:50.
In terms of operating results, during the year 2019-64, the company had a total revenue of 618.72 million baht, 1,004.68 million baht and 1,456.38 million baht, respectively, net profit of 82.09 million baht, 164.74 million baht and 275.34 million baht, respectively, representing a net profit margin of 13.27%, 16.40%. and 18.91%, respectively.
For the first 6 months of the year 65, the company had a total revenue of 843.51 million baht from the same period of the previous year with a total revenue of 666.59 million baht and a net profit of 163.66 million baht from the same period of the previous year with a profit of 123.11 million baht.
As of June 30, 65, the company had total assets of 840 million baht, total liabilities 834.39 million baht, and total shareholders’ equity of 6.21 million baht.
The Company has a policy to pay dividends to shareholders at least once a year at an aggregate rate of not less than 40% of the net profit from the Company’s consolidated financial statements. after deduction of corporate income tax and the allocation of reserve funds as stipulated in the laws and regulations of the Company
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