Meb Corporation, an e-book distribution company, has submitted an application for a 75 million share offering to the SEC in hopes of using the money to expand its business on the platform.
MEP Corporation Limited Joint Stock Company which is a subsidiary company central File a registration statement with the Office of the Securities and Exchange Commission (SEC) for an initial public offering (IPO) of no more than 75,000,000 shares with a par value of 0.50 baht per share and will be listed. (never) with Bualuang Securities as a financial advisor
For the shares offered for this IPO, this is not more than 25% of the total shares of the Company paid up. After the issue and offer of newly issued ordinary shares, divided into:
- No more than 22,500,000 newly issued ordinary shares with a par value of 0.50 baht per share.
- Existing common 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.
Following this offer of all newly issued ordinary shares, the Company will have a paid-up capital not exceeding 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 the businesses present on the platform (meb readAwrite and Hytexts), including but not limited to Purchase of new literary rights to sell on the current platform By purchasing the license of Webtoon or online comics to sell through the current platform . Improvements to the current platform to better meet customer needs.
as well as used for the expansion of new business related to ongoing business This includes, but is not limited to, the online distribution of foreign language literature via online literature platforms. Distribution of online literature in foreign languages via online literature platforms. It will also be used as working capital for commercial operations.
Meb Corporation is a leader in the business of selling electronic books (E-Books) in Thailand considering the total turnover.In addition, the Company also has other activities such as the distribution of electronic reading devices (E-Reader) and business to Digital library service. system platform for business (Hibrary) which operates through the Company’s subsidiary, Hi-Tex Interactive Company Limited (“Hytexts”).
The Company operates an electronic book (E-Book) distribution business 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 with distribution of different online literature. The meb platform sells a variety of online literature from independent publishers and authors such as novels, generic 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 on their own (User Generated Content or “UGC”), the owner of the work can choose to sell their work and / or let the reader make a donation to support
The structure of the main shareholders before and after the IPO is as follows:
- B2S Co., Ltd. holds 153,780,000 shares, or 55.42% after the IPO will reduce the percentage to 51.26%.
- Two Bees (HK) Limited, which holds 54,345,000 shares, or 19.58%, will be reduced to 4.99%
- Mr. Kittipong Saelim, who holds 28,125,000 shares, or 10.14%, will be reduced to 9.38%.
- Mr. Rawiporn Mahasit 28,125,000 shares, accounting for 10.14%, will be reduced to 9.38%.
- Brain Ventures Limited owns 13,125,000 shares, which is 4.72% after the 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. The shareholders are Mr. Kittipong and Mr. Rawiorn in the ratio of 50:50.
In terms of operating results, during the year 2019-64, the company recorded a total turnover of 618.72 million baht, 1,004.68 million baht and 1,456.38 million baht, respectively, a net profit of 82 , 09 million baht, 164.74 million baht and 275.34 million baht, respectively, which represents a net profit margin of 13.27%, 16.40% and 18.91% respectively.
For the first 6 months of year 65, the company recorded a total turnover of 843.51 million baht compared to the same period of the previous year with a total turnover 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 net assets of 6.21 million baht.
The Company has a policy of paying dividends to shareholders at least once a year at an aggregate rate of not less than 40% of the net profit of the Company’s consolidated financial statements. after deduction of corporate income tax and allocation of reserve funds as required by the laws and regulations of the Company
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