Thai tech enabler Gable is planning to raise funds from the Stock Exchange of Thailand (SET) for future expansion, with the aim of driving the digital transformation market globally.
Chief executive Chaiyuth Chunnahacha said Gable plans to focus on expanding its software platform sector, which is expected to be a main driver of the company's growth engine in the long term considering the average gross profit margin of 50% recorded between 2020 and 2022.
The company has developed and launched three digital platforms that are run by its units. Each platform offers different services, including big data processing, digital marketing and property management.
"For the next three to five years, our strategies will also involve strengthening our cash cows, or those which are our core business from the enterprise solutions and services as well as value-added distribution solution segments," said Mr Chaiyuth.
"We are searching for new solutions and applications to support our portfolio growth and our goal to become a leader in Thailand's technology market. At the same time, we also plan to add more value through business consultancy services for our customers."
In 2022, Gable reported a net profit of 268 million, up from 245 million and 166 million baht in 2021 and 2020, respectively.
Revenue from sales and services tallied 4.73 billion baht, down from 4.93 billion in 2021 and 5.17 billion in 2020 due to portfolio restructuring. Of the total revenue, 76.2% came from enterprise solutions and services, 22.2% from value-added distribution, and 1.5% from the software platform.
He said there is a growing demand for technology across several industries, especially financial services and healthcare. Other sectors making up the firm's customer base are energy, telecom, education, retail and transport.
"More companies are increasingly looking forward to incorporating a digital transformation in their business," Mr Chaiyuth.
According to data from research company Markets and Markets, the size of global digital market is forecast to reach US$1.54 trillion in 2027 from $594 billion in 2022, with a 21% compound annual growth rate.
Gable expects to raise funds through the initial public offering (IPO) in May this year, while offering up to 175 million shares, accounting for 25% of total issued shares, after the IPO. The proceeds would be used for investment in related business, working capital, and debt repayment.
"We believe that being a tech enabler means having the ability to utilise technology for better quality of life conditions and sustainable business growth," said Mr Chaiyuth.