Pro Inside Public Company Limited has submitted its filing for the first public offering (IPO) to the Securities and Exchange Commission (SEC) of Thailand. It offers up to 140 million shares, representing 25.93% of the total issued and paid-up capital following the completion of the IPO, each share having a par value of 0.50 baht and a book value of 0.91 baht per share. Siam Alpha Capital Co., Ltd. serves as financial advisor.
The purpose of using funds raised during this IPO is to provide collateral with banks for issuing guarantees (Letters of Guarantee: LG) for projects and working capital financing for customers within government agencies and/or state enterprises.
Pro Inside is a subsidiary of SKY ICT Public Company Limited (SET: SKY), which holds a majority stake of 91.40%. After completing the IPO, the proportion will reduce to 67.70%.
Originally named Raytel Co., Ltd., SKY became the major shareholder in 2022 as the company recognized the growth potential in the business. As a result, the nature of the business shifted towards focusing on conducting IT sales and systems integration services covering consulting, designing, installing, maintaining, providing products, and related equipment for comprehensive IT solutions (ICT Solutions) to improve organizational work efficiency. This includes hardware and software applications tailored to meet customer needs, resulting in end-to-end application solution design and development.
Additionally, the company emphasizes providing integrated physical security solutions like closed-circuit television (CCTV) solutions, access control solutions, and license plate recognition solutions, among others.
Pro Inside has strategic partnerships with leading global providers of IT technology systems and surveillance camera manufacturers, including Dahua, Hikvision, and Huawei, among others. Additionally, the company maintains good business relationships with product owners, such as Cisco and Fortinet.
Moreover, the company employs experienced engineers and personnel who have undergone international training and received certifications from top global product leaders. These professionals can handle complex IT infrastructure projects involving design, development, installation, and maintenance seamlessly, ensuring high-quality service, maximum client satisfaction, and meeting specific requirements for both governmental and private sector clients.
From 2021 to 2023, Pro Inside generated revenue from complete one-stop IT sales and system integration, service income, and sales income amounting to THB 674.61 million, THB 642.61 million, and THB 1,075.18 million respectively, representing annual growth rates of +36.35%, -4.74%, and then +67.32%. In 2023, service revenues accounted for 29.94% of total revenue, while combined sales and one-stop IT system integration contributed 70.02% and sales income made up only 0.04%.
The company follows a dividend policy of paying no less than 40% of net profits according to audited financial statements, corporate tax deductions, statutory reserves, and all types of reserve funds as stipulated by law and the company’s regulations.
