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1st trading day, online insurance platform of Thailand’s biggest brokerage TQM

          TQM floated its shares on SET on 20 December, after successfully offering 75 million IPO shares at THB 23 each. It is confident that the shares will attract healthy interest from the investors, including the institutional investors who recognise the company's strong fundamentals. The management will provide a silent period to bolster investors' confidence. The proceeds will be used to operate insurtech business to tap growths in the insurance industry.
          DR UNCHALIN PUNNIPA, PRESIDENT OF TQM CORPORATION PCL (TQM), a leading insurance brokerage in Thailand (company slogan: "TQM – Never stops giving you the best"), revealed that TQM has floated its shares on the Stock Exchange of Thailand (SET) on 20 December. She expressed confidence that, the ongoing stock market volatility notwithstanding, the listed shares will draw healthy interest from the investors due to the company's strong fundamentals and capacity to operate a full-fledged online insurance brokerage platform that will respond better to the contemporary consumer's demand and confirm the company's listed firm status and leadership in the life and nonlife insurance brokerage industry. On behalf of TQM, she expressed thanks to the subscribers for the company's IPO shares.
          DR NAPASSANUN PUNNIPA, TQM'S CHIEF EECUTIVE OFFICER, commented that TQM has four business segments:
          (1) Non-life insurance brokerage. It offers more than 130 non-life insurance products, including both (compulsory and voluntary) motor insurance and non-motor insurance (fire, marine and transport, miscellaneous general insurance, etc.) products.
          (2) Life insurance brokerage. It provides more than 20 life insurance products to maximise customers' satisfaction.
          (3) IT and software solutions. The solutions include giving advice on business processes, digital marketing research, etc.
          (4) Insurance advisory. Its insurance advisory services enable customers to search and compare insurance information conveniently and with great time efficiency.

          MR PICHET SITHI-AMNUAI, PRESIDENT OF BUALUANG SECURITIES PUBLIC COMPANY LIMITED, a Co-Financial Advisor and Co-Lead Underwriter, added that TQM owes its great potential and leadership in insurance brokerage to its rich variety of insurance products that meet customers' demand, as well as its strong brand and the various online and offline channels that are available for buying its insurance products, which provide easy access by the consumers. He therefore believed that the stock offers excellent long-term potential and will become a very popular investment choice among the investors.
          MR SOMJATE MOOSIRILERT, CHIEF EXECUTIVE OFFICER AND PRESIDENT OF THANACHART SECURITIES PCL, as another Co-Financial Advisor and Co-Lead Underwriter, expressed his team's belief that TQM stock will be warmly welcomed by the investors, because TQM's leading position in the insurance brokerage industry, as well as the company's constant growths and command of a relatively large market share, will produce great growth opportunities for interested investors. He noted that 50 million IPO shares (67%) were allotted to institutional investors, and that to win investor's trust in the shares offered, the company directors, executives and/or employees at the supervisor level or higher agreed to a lockup period of six months from the listing date.
          TQM's registered capital currently stands at THB 300 million (par value at THB 1.0 per share), and the company's paid-up capital at THB 225 million. The company issued 75,000,000 IPO shares. Of the shares issued, about 6,100,000 (or 2.03% of the post-IPO paid-in capital) were allotted to the company's and subsidiaries' directors, executives and/or employees under Employee Stock Ownership Plans (ESOP).