June 25--Aira Capital, a holding company for financial businesses, expects to raise its asset size to 25 billion baht within five years to become a top-five non-bank financial institution by acquiring related businesses.
The company plans to raise asset size over that time from 5 billion baht after offering a full array financial services by acquiring non-bank financial services such as consumer finance, leasing and insurance businesses.
Chief executive Nalinee Ngamsettamas said its core income comes from securities business, followed by its MAI-listed sister firm Aira Factoring. The goal is to shift the revenue proportion to non-bank financial services.
Aira Capital is in talks with potential sellers of consumer finance and leasing firms as it aims to acquire or swap shares with its partners.
"But it is not easy to seal the deal because we are seeking those can create synergy at a reasonable price," she said.
Ms Nalinee said Aira wants to be a major shareholder or take control of management, but does not require 100% shareholding.
Aira Capital will list on the MAI this month by issuing 759 new million shares, of which 634 million will be offered to the public and 125 million to existing shareholders at a par value of 25 satang. After the IPO its paid-up capital will reach 1 billion baht, up from 700 million.
Funds from the IPO will be used for business expansion, debt payment and working capital, she said.
Aira Securities returned 10-15% on its assets the past year. Aira Capital recorded revenue of 789 million baht for a net profit of 107 million in 2013. It expects a first-half dip in revenue year-on-year.
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