PLANB invests 860 million baht to buy 46.28% stake in iCare from COM7

Thunhoon··TH·Read original
3▲1 ▼0Impact / 5
Summary · why it matters

Plan B Media Public Company Limited, or PLANB, informed the Stock Exchange of Thailand that its board of directors has approved the subscription for newly issued ordinary shares of iCare Insurance Public Company Limited, or iCare, a subsidiary of Comseven Public Company Limited, or COM7, totaling 1,126,302,583 shares, representing 46.28% of iCare's total shares, at a total price of 860 million baht, or a subscription price of 0.7635604 baht per share. The subscription process is expected to be completed by the end of 2026, and after the transaction PLANB will hold 46.28% of iCare's total shares, with iCare not becoming a subsidiary of PLANB. The company stated that this strategic investment plan aims to enter the mobile phone insurance and electronic device protection business, which has growth potential driven by the rising value of smartphones, the role of smartphones in daily life, and the expansion of consumer credit and installment payment systems. iCare's strength lies in its position within COM7's ecosystem, which has a large distribution network for smartphones and IT devices. Kasikorn Securities views the deal positively, noting that iCare's price-to-earnings ratio of 5.9 times at which PLANB is buying in should help increase PLANB's fair value, which currently trades at a price-to-earnings ratio of 23.06 times, and maintains a Buy recommendation on PLANB while raising its mid-2027 target price to 6.87 baht.

Impact on assets 2

Communication Services▲ · 1 stocks
Plan B Media PCL
PLANB
▲ PositiveCapitalrelevance

PLANB's board approved an 860 million baht strategic investment in iCare, and Kasikorn Securities sees the deal raising PLANB's fair value and lifted its target price to 6.87 baht.

Consumer Discretionary▲ · 1 stocks
Com7 PCL
COM7
± Mixedrelevance

COM7 is selling a 46.28% stake in its subsidiary iCare to PLANB; article does not state a clear positive or negative for COM7 itself.

Off-coverage companies 1

iCare Insurance Public Company LimitedPrivate▲ Positive
Capitalrelevance

iCare receives an 860 million baht investment from PLANB for 46.28% of its shares, funding its mobile phone insurance and device protection business.

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