Bangkok: The Stock Exchange of Thailand (SET) welcomes Turbo Money Public Company Limited (TURBO), a provider of car title loans and nano-finance supervised by the Bank of Thailand, to begin trading on the SET in the Financial Business Industry Group on September 30, 2025.
According to Thai News Agency, Mr. Sorawit Krairiksh, Senior Executive Vice President of the Issuer and Marketing Division at SET, announced the listing of Ngern Turbo Public Company Limited (NGT) on the SET in the Finance Industry Group, Finance and Securities Sector, under the ticker symbol “TURBO.” This milestone will enable the company to access capital markets for expansion, strengthen its operations, and enhance opportunities for retail customers to access formal financial services efficiently.
TURBO provides personal loans secured by vehicle registration, small loans for occupations under nano-finance, land title loans, and life and non-life insurance brokerage services under the trade name “Ngern Turbo.” The company operates 996 b
ranches across 54 provinces in major regions, facilitating the growth of its loan portfolio and expanding branch network to tap into new customer bases.
The company has a paid-up capital of 1,335 million baht post-IPO, with a par value of 0.50 baht per share. It offered 537 million common shares to the public, comprising 447.78 million newly issued shares and 89.22 million existing shares of Kasikorn Vision Company Limited (KVISION), at an offering price of 1.50 baht per share. This results in 671.67 million baht in new shares raised, with a market capitalization of 4,005 million baht at the IPO price. TISCO Bank Public Company Limited is TURBO’s financial advisor, and TISCO Securities Co., Ltd. along with Kasikorn Securities Public Company Limited are the underwriters and distributors of the common shares.
Mr. Suthach Ruangsutthipap, Chief Executive Officer of Ngern Turbo Public Company Limited, highlighted the business opportunity to fill the financial service gap for retail customers lacking access to co
mmercial banks. By offering a range of loans focusing on convenience and efficiency, TURBO aims to reduce long-term costs through its proprietary technology. The funds raised will be used for business expansion, repayment of bank loans, and working capital.
Post-IPO, TURBO’s top shareholders are the Tangmitrpracha family holding 74.02% of shares, KVISION with 4.98%, and executives, personnel, and the general public with 21.00%. The IPO price was determined via a book building survey, with a price-to-earnings ratio of 12.70 based on net profit from the past 12 months. The company’s dividend payout policy is set at a minimum of 20% of net profit from separate financial statements, after tax and reserves as required by law and company regulations.