JKN plans Singapore IPO in near future
MAI-listed JKN Global Media plans to launch an IPO in Singapore over the next 3-5 years to capitalise on the regional content business and build up its corporate brand regionally.
JKN expects revenue from overseas markets to make up 30% of total revenue, increasing to 50% in the next 3-5 years, making it an appropriate time to become a regional company, said JKN chief executive Jakkaphong Jakrajutathip.
The company will also begin airing an economic news programme via four digital TV channels in June.
JKN holds a 10-year copyright licence from CNBC Asia from 2017 to produce content under the CNBC brand.
The news programme production business will be run under the brand JKN CNBC, which will produce local and international economic content.
Mr Jakkaphong said the company booked total revenue last year of 1.4 billion baht, with net profit of 230 million baht.
Total revenue this year is projected to increase 20% from 2018.
"An organisational structure for the holding company to be listed on the stock exchange of Singapore has not been determined," he said.
Several regional companies in the content and entertainment sector expressed interest in partnering with JKN, said Mr Jakkaphong.
The model could be a dual-listed company, where one company lists on two stock exchanges.
However, JKN prefers to list another company as its holding company.
In 2019, JKN will focus on expanding distribution of series from India and the Philippines to Asean through all broadcast platforms through "superstar marketing".
The JKN chief said the company has a plan to expand copyright content distribution to Vietnam, Malaysia, Brunei and Taiwan.
"Following the success in Myanmar, Laos and Cambodia last year, JKN has an opportunity to use our copyrighted content to generate dramatic revenue growth," he said.
Many foreign TV channels were interested in purchasing copyright content to broadcast on their channels, which boosted the company's overseas revenue last year to more than 20% of the total.
Overseas revenue is expected to reach 30% this year, said Mr Jakkaphong.
JKN also received better support from digital TV operators in Thailand for local copyright content thanks to the National Broadcasting and Telecommunications Commission (NBTC), which is assisting digital TV operators.
Help from the NBTC includes licence fee support, delays of network rental fees for MUX support that helps lower digital TV operators' costs, freeing them up to purchase JKN's copyrighted content for broadcast.