‘Blue Venture Group’ submits filing for IPO of 157.5 million

‘Blue Venture Group’ submits filing for IPO of 157.5 million
‘Blue Venture Group’ submits filing for IPO of 157.5 million

‘Bullventure Group’ filed a filing with the SEC for an IPO of not more than 157.5 million shares to be listed on the Market for Alternative Investment (MAI) to establish KGI Securities (Thailand) Co., Ltd. ( public) as a financial advisor

Mrs. Nawarat Wongthitirat Director and Chief Executive Officer of Blue Venture Group Public Company Limited (the Company) revealed that the Company is an expert in developing and providing management system services for non-life insurance and related businesses. With more than 20 years of business experience, using Big Data to develop service systems throughout the value chain with digital technology to provide a central platform for managing business for the insurance industry (Standard Platform). The standard level of the work process of the auto insurance and health insurance businesses to become InsurTech, benefiting all stakeholders along the value chain. and provide a service experience that truly understands and reaches consumers

The company is the pioneer and leader in the business of providing platform systems and applications for managing auto insurance related businesses. with expertise in developing technology solutions platform that covers processes and connects the value chain of the auto insurance business by providing EMCS (Electronic Motor Claim Solution) system which covers from The process of receiving car accident notification, dispatching surveyors to the scene and notifying online claims (m-survey), and considering compensation in the process of arranging repairs (e-claim) and purchasing spare parts (e- Part) and other auxiliary systems such as systems for forklift companies (e-towing), e-Auction management systems, garage management systems for cash customers (e-Garage) as well, which is a transformation for Car insurance claim service

The company has been entrusted to use the system from 34 insurance companies or accounted for more than 97% market share from the number of customer policies. Company’s insurance company and more than 3,700 companies involved in car claims services, including survey companies Standard service center, repair shop, glass replacement shop, forklift company, spare parts shop, max and fiber repair shop. Car wreck auction companies, etc., with over 1.5 million claims managed through the system per year.

In addition, the company also provides operational support services to the insurance business through its operations under 3 subsidiaries, namely Blue Venture TPA, which has expertise and is a leader in providing platforms and applications for Manage medical benefits and claims in the health insurance business. To provide services to insurance companies and manage medical benefits for leading private companies in Thailand that have their own employee welfare management. with a network of hospitals in both the public and private sectors Including more than 500 clinics nationwide can use the system to check the rights of coverage of more than 8.8 million insurers and employees of general organizations that manage employee benefits by themselves. In addition, it also provides actuarial consulting services by Blue. Venture Actual Co., Ltd. and provide innovative information technology services. That helps increase the efficiency of the organization by Blue Venture Tech Co., Ltd. as well.

Chief Executive Officer Blue Venture Group Plc. said that the company has operated its business under the vision. ‘Creating new innovations continuously To enhance the service experience and meet the changing lifestyle of consumers’ by using technology and innovation in the development of platforms and applications. To create accessibility and respond to the use of services of modern consumers with the use of artificial intelligence (AI) technology to analyze and process data Increase management efficiency throughout the value chain of insurance business. Helping business operators reduce costs and increase the speed of service to customers. Driving insurance industry, both auto insurance business and health insurance business to grow sustainably.

“We are a leading provider of auto insurance and health insurance business management platform, ready to be an Industry Game Changer that will transform industries. by expanding business management platform services To create platform, solutions and applications for customers in various business sectors. Elevate service levels throughout the value chain through the use of digital technology. to create the highest satisfaction experience for customers and consumers,” said Mrs. Nawarat.

Miss Patchaporn Sankhaburanurak Managing Director investment banking department KGI Securities (Thailand) Public Company Limited, a financial advisor, said that Blue Venture Group Public Company Limited has filed an application for an offer for sale of securities and a registration statement for the offering of securities (Filing). Office of the Securities and Exchange Commission (SEC) to issue and initial public offering (IPO) and listed on the Market for Alternative Investment (MAI) with KGI Securities ( Thailand) Public Company Limited is a financial advisor and underwriter.

Currently, Blue Venture Group Public Company Limited has a registered capital of 225 million baht, divided into 450 million shares with a par value (par) of 0.50 baht per share, with a paid-up capital of 180 million baht, divided into 360 million ordinary shares. shares, which will be an initial public offering (IPO) of not more than 90 million shares and existing shares offered by the Company Thai Reinsurance Public Company Limited, in the amount of not more than 67.5 million shares, representing a total proportion of not more than 35% of the total issued and paid-up ordinary shares of the Company. After the issuance and offering of newly issued ordinary shares this time The proceeds from this fundraising will be divided into 3 parts, which consist of 1. Development of AI and information systems. To expand the business of the group of companies 2. Expand business to ASEAN countries by investment or joint venture with other companies 3. Used as working capital to use in the operations of the group of companies.

The article is in Thai

Tags: Blue Venture Group submits filing IPO million

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