Ngern Tid Lor Co (Tidlor), a microcredit provider under Bank of Ayudhya (BAY), expects less impact from the fresh wave of the pandemic than the initial outbreak last year because of the company’s improved operational management and solid financial state.
Managing director Piyasak Ukritnukun said lessons learned and prompt business adjustments are key factors that allow businesses to overcome uncertainty.
Ngern Tid Lor prepared by increasing its non-performing loan coverage ratio, which stands at 325% of total outstanding loans.
The company also built up around 10 billion baht worth of financial facilities to help customers hit by the latest outbreak of the pandemic, said Mr Piyasak.
Ngern Tid Lor is planning to list on the Stock Exchange of Thailand through an initial public offering (IPO) of no more than 1,043.54 million shares, including an over-allotment option.
The IPO price is 34-36.50 baht per share, and the subscription period has been set for April 22-26 this year.
For retail investors, the IPO share subscription is only available online via KMA (BAY’s mobile banking app), K-Plus (Kasikornbank’s app) and Krungsri Securities under a small lot condition.
The minimum subscription is set at 1,000 shares.
The firm’s core businesses are car title loans and insurance brokerage.
It set a target for business growth of 15-20% per year. Ngern Tid Lor’s target customers have monthly income of less than 15,000 baht and do not have bank statements or salary pay slips.