News & Activities 16 September 2021

‘Bluebik’ (BBIK) debuts first-day trading in SET with goal. Leveraging strength to enable digital transformation business expansion

Bluebik Group Public Company Limited offers its shares for trading in the Stock Exchange of Thailand’s MAI, highlighting the Company’s strength as being the first digital transformation consultancy stock to be listed, with the intention to expand the business in every dimension to strengthen the personnel, advance the technology and improve software in the bid to empower the organization reinforcing the Company’s outstanding performance.

Mr. Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited (BBIK), revealed that the Company is offering its shares in the first day of trading in the Stock Exchange of Thailand (SET)’s Market for Alternative Investment (MAI) today (September 16, 2021) with the abbreviation “BBIK” used in the trading after the fund-raising by offering 25 million shares for subscription in the initial public offering (IPO) which was enthusiastically received well beyond expectations. This fund-raising will help to promote financial strength to support business expansion in many dimensions and generate an even stronger growth.

The plan to expand the business that will be carried out continuously following the SET listing consists of six dimensions, namely:

  1. To enlarge the work force and to further enhance technological skills as well as the plan to establish the Learning Academy Center
  2. To develop technological and digital products to provide Software-as-a-Service (SaaS) through the Internet as well as to establish the Research and Development Center
  3. To enhance the potential of internal management through the upgrading of the software system to support organizational growth
  4. To expand office space to accommodate the additional personnel
  5. To invest in other related and high-potential businesses to build growth and to cope with market volatility
  6. To enhance working capital potential.

The Company aims to be the leading integrated digital transformation consulting organization, by bringing together the strength of the experience and expertise of the executives and personnel who have worked with world’s leading consulting firms. And also to provide innovation and technology consulting services that meet the demand of the customers who want to upgrade their organizations to keep pace with the changes in the digital era and unlock unrestrained growth potential to build business advantage covering strategic planning and Management Consulting to identify success factors that will create boundless growth; Strategic Project Management Office (PMO); Digital Excellence and Delivery; Big Data & Advanced Analytics consulting; and to offer IT Staff Augmentation for customers to complete their projects.

As for BBIK’s 2018-2020 performance, revenue from sales and services were 132.76 million baht, 184.94 million baht and 200.53 million baht, respectively. The compound annual growth rate (CAGR) was 22.90 percent, and the net profits were 19.22 million baht, 31.71 million baht and 44.29 million baht, with the CAGR of 51.8 percent for the first six months of this year. Revenue from sales and services was 126.92 million baht, an increase of 39.47 percent from the same period of the previous year, and a net profit of 30.06 million baht, representing a net profit margin of 23.67 percent.

From the end of 2021, the Company will recognize revenue from Orbit Digital Company Limited (ORBIT), which is a joint venture with PTT Oil and Retail Business Plc. (OR) holding 40-percent share through a subsidiary and the Company holding 60 percent to leverage the digital innovation and potential to create the optimum experience for customers, as well as to enhance the organization’s technological and innovative capabilities to add value and create new business opportunities for OR to become the digital leader in the retail industry.

Mr. Payupat Mahabhol, Managing Director for Investment Banking, Yuanta Securities (Thailand) Company Limited, as financial advisor, lead underwriter, said Bluebik Group Plc. is an IPO with outstanding potential. The Company offers a wide range of services covering strategy, and technological and digital management, thus can meet the needs of corporate customers who want to engage in digital transformation in order to increase competitiveness and unlock the growth potential. In the past, the Company has gained the trust of many leading companies in various industries to avail of the services and have attained rapid growth performances. This also includes the opportunity to expand the customer base continuously into the future, to be in line with the digital transformation trend occurring around the world.

Mr. Pongsak Phrukpaisal Managing Director of Kasikorn Securities Public Company Limited, joint lead underwriter, said that Bluebik Group Plc. is considered to be a leading company in the digital transformation consultancy business in Thailand which will benefit from the new era of digital-driven businesses. The strength of the Company is that it has an experienced management team with expertise in consultancy and strategic planning, while possessing modern digital technology to provide services to customers and the ability to compete with foreign consultancy companies. At the same time, the operating results have shown outstanding growth in both revenue and profit reinforcing the strong business potential. In addition, there is also the partnership with OR through a joint venture company that will support the growth of the Company.