Bluebik to launch IPO later this monthPochara: High growth potentialBluebik Group, a local tech consulting company, is offering 25 million common shares, representing 25% of the total issued and paid-up shares, in an initial public offering (IPO) in the Market for Alternative Investment at the end of September. Payupat Mahabhol, managing director for investment banking at Yuanta Securities (Thailand), a lead underwriter for Bluebik's IPO, said Bluebik shares, with the ticker symbol BBIK, will be open for subscription through Yuanta and Kasikorn Securities, and the brokers' customers will get priority in share allotments. Pochara Arayakarnkul, Bluebik's chief executive, said the IPO was primarily aimed at raising funds for employees' capability enhancement and building a talent pool, which has been deemed a main driving force for the firm's future business expansion. According to the firm's financial statement, Bluebik's revenue has risen from 132.8 million baht in 2018 to 200.5 million baht at the end of 2020, with a compound annual growth rate of 22.9%. Most of the growth was attributed to the firm's rapid expansion of its digital excellence and delivery and management consulting services, which include the development of comprehensive advice and plans on digital application and technology development customised for individual organisations.

Source: Bangkok Post August 31, 2021 23:48 UTC