Sky ICT Public Company Limited (SET: SKY) has announced that the Board of Directors approved Pro Inside Company Limited (PIS), a subsidiary company of SKY with 91.40% shareholding, to issue and offer its newly-issued ordinary shares in the initial public offering (IPO) for a listing in the Stock Exchange of Thailand.
The Board of Directors also approved the change in the value of PIS’s common shares from the original par value of 100 baht to 0.5 baht, causing the total number of PIS shares to change from 2,000,000 shares to 400,000,000 shares.
The capital of PIS will be increase in 140,000,000 shares at THB 0.5 par value totaling THB 70,000,000 to be offered in the IPO. The number of newly-issued shares to be offered in the IPO shall not exceed 140,000,000 shares at THB 0.50 par value.
PIS will list its ordinary shares in the Stock Exchange of Thailand to raise funds for expanding the business and/or using as working capital and/or repaying loans from financial institutions.
PIS provides network solutions in the field of project management, installation and maintenance.
