ASIASOFT APPOINTS DBS VICKERS AS LEAD UNDERWRITER

Asiasoft Corporation Pcl has appointed DBS Vickers Securities (Thailand) Company Limited as the lead underwriter and five other leading securities firms as co-underwriters for the company’s 75 million shares offered under the IPO scheduled during 20-22 May 2008 at the subscription price of Bt12 per share.

Mr. Pramoth Sudjitporn, Chief Executive Officer of Asiasoft Corporation Public Company Limited, disclosed that “Under this IPO, the company is offering 75 million common shares at Bt12 each, seeking to raise total proceeds of Bt900 million; Bt200 million of those will be invested in online game businesses in Malaysia and Vietnam, another Bt400 million will be spent to procure more online game copyrights, Bt100 million will be spent in the upgrades of the network and software system and about Bt70 million will be used in the development of online games. The rest of the raised capital will be spent as the working capital of the company. F

or this IPO, we have appointed DBS Vickers Securities (Thailand) Company Limited as the lead underwriter for the offering and the listing of the stocks on the Stock Exchange of Thailand (SET) with five other securities firms including SCB Securities Company Limited, Bualuang Securities Public Company Limited, KTB Securities Limited, BFIT Securities Public Company Limited and Globlex Securities Company Limited as the co-underwriters for the offering. The subscription period runs between 20-22 May 2008 at 9.00 am – 16.00 pm. All IPO shares will be enlisted and floated for trading in the Stock Exchange of Thailand on 29 May 2008 under the stock symbol of ‘AS.’

Mrs. Pattera Dilokrungthirapop, CEO, DBS Vickers Securities (Thailand) Co.,Ltd., financial advisor and lead underwriter of Asiasoft IPO, revealed that “From the book building period we held with institutional investors at the price range of Bt10-12 per share, we received such tremendous indications of interests that resulted in more than 3 times oversubscription of the shares that made us very confident to settle the IPO price at Bt12 which is the highest bid derived from the book building process. The offered price offers attractive discount from the industry’s average P/E ratio which should gives investors lucrative benefits once the stocks are traded in the exchange. For the share offering ratio, Lombard Asia III will buy 15 million shares, local and international institutional investors another 18.5 million shares, individual investors 40.2 million shares and the rest 1.3 million shares will be allocated to the company’s VIPs.

 “Asiasoft’s shares present robust business potentials thanks to the company’s firm establishment in highly growing online game businesses coupled with the fact that the company is the regional leader in the industry with diverse investment schemes in Thailand, Singapore, Malaysia and Vietnam. Also, their very keen executives have made series of impressive business successes in the online gaming arena. Last year, the company’s net profit shot up 102%, reaping in Bt254 million from 2006. With this IPO, Asiasoft will be the first online game company in Thailand and Southeast Asia to be listed in the stock exchange, following others in China, Japan, South Korea and Taiwan that had successfully raised capital through similar manner,” says Mrs. Pattera.

Currently, Asiasoft Corporation Public Company Limited has a total registered capital of Bt 316 million, being made up of 316 million shares at a par value of one Baht.  Paid up capital, currently standing at Bt 225 million, will be increased to Bt300 million following this IPO of a further 75 million shares to the general investors. The remaining 16 million shares comprising 16 million ordinary shares at Bt1 par value each will be allocated for employee stock option plan.