Bluebik will have its SET listing in 2025 to implement large projects domestically and internationally and will increase its free float as shareholders agree with a bigger registered capital and the dividend payment of 0.80 baht per share with XD to be posted on April 30.
Bluebik Group Public Company Limited (BBIK), a leading consultancy on end-to-end digital transformation, plans its listing on the Stock Exchange of Thailand (SET) within 2025, only two years after its admission to the Market for Alternative Investment (mai). BBIK shareholders in their annual general meeting on April 23, 2024, unanimously resolved to raise the paid-up registered capital of the company from 54,441,200 baht to 100,008,484 baht. The company will have 91,134,568 newly issued shares with a par value of 0.50 baht each in addition to 108,882,400 existing shares. As a result, it will meet the newly amended conditions of the SET. The expected listing on the main market will enhance the image of the company especially when it bids for large-scale projects and expands business domestically and internationally. The listing will increase its free float as well.
Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited (BBIK), said the annual general meeting of the shareholders also approved the dividend payment of 0.80 baht per share. It will consist of 41.54 million baht in a cash dividend which is equivalent to 0.3815 baht per share and a stock dividend worth no more than 45.57 million baht or 0.4185 baht per share – an allocation ratio of 1 existing share to 0.837 new common share. The registered capital increase will support the stock dividend payment. The names of the shareholders who will receive the dividend payment will be announced on May 2, 2024, and the payment will be made within May 21, 2024.
“The trading of Bluebik shares on the SET will demonstrate the business potential of the company which is reflected by its performances that have been breaking records since its establishment in 2013. Bluebik is confident that its listing on the SET will improve its image and be beneficial to its bids for large projects and business expansion in the future. As well, the listing will assure employees and all stakeholders of steady growth and open its opportunities to welcome more local and foreign investors,” Mr. Pochara said.
Regarding its business outlook in 2024, Bluebik clearly foresees steady growth. In 2023, the company made a net profit of 303 million baht, surging by 132% year-on-year, and its revenue amounted to 1,313 million baht, soaring by 133% from a year earlier. New positive factors are obvious for its growth this year. Bluebik increases its shareholding in Innoviz Solutions Company Limited to 85% and its profit share in the subsidiary grows accordingly. In addition, the Board of Investment granted more tax privileges to Innoviz Solutions in the first quarter of this year.
Regarding its business plan, Bluebik continuously emphasizes synergy with companies under its umbrella to realize its planned growth and follow new business trends. The highlights of its business plan are as follows.
1) Service expansion and improvement to meet demand for more complicated digital transformation – This will considerably increase revenue from core services – especially super app development; system and application upgrades with event-driven nano service architecture (EDNA) which facilitates software maintainability; generative AI-related services and cybersecurity consulting. These are technology megatrends for businesses.
2) Penetration of international markets with high potential for technology development like Vietnam and European countries
3) All-out up-selling and cross-selling efforts and increase in employee utilization rates at subsidiaries.
“The company firmly believes that although an economic slowdown is affecting the investment plans of businesses, demand is growing steadily for digital transformation. This results from the rapid changes and increasing complexities of technologies which prompt continuous investment in technologies and innovations. However, Bluebik always updates its operational plan to follow business trends and suit the increasingly cautious spending of clients. In addition, Bluebik is looking for business partners, especially those who will enhance the synergy and service quality among companies under its umbrella to secure long-term growth,” Mr. Pochara concluded.
