Netbay, a Thailand-based e-logistics technology provider backed by telecoms infrastructure services provider Internet Thailand (Inet), is hoping to raise ฿160m ($4.5m) in its initial public offering.
Netbay has priced its shares at ฿4 and will offer 40 million shares on Thailand’s Market for Alternative Investment. The company expects to begin trading on June 17.
Inet has no plans to sell its 25% stake, according to news provider Deal Street Asia, believing Netbay has further growth potential and will be well-received by investors.
Pichit Viwatrujira-pong, chief executive at Netbay, said the proceeds would be used to achieve 20% growth in revenue this year, from ฿223m in 2015.
Netbay offers 24-hour private cloud computing services, covering business-to-business, business-to-government and business-to-consumer transactions.