PLANB subscribes to iCare's capital increase worth 860 million baht, holding a 46.28% stake

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

Plan B Media Public Company Limited, or PLANB, owned by Praphan Lochankosin, has announced the subscription of 1,126.30 million newly issued shares of iCare Insurance Public Company Limited, or iCare, a subsidiary of COM7, representing a 46.28% stake at 0.7635604 baht per share, for a total value of 860 million baht. The purpose is to generate returns from long-term investment, capitalizing on growth opportunities in the mobile phone insurance and electronic device protection business. This deal follows PLANB's recent additional investment of no more than 263 million shares in Com Seven Public Company Limited, or COM7, representing an 11.01% stake, with a total value of no more than 7,219 million baht. As for iCare's performance, it has recovered from losses in the hundreds of millions of baht three years ago. In 2023, it had total revenue of 107.19 million baht and net profit of 16.78 million baht. In 2024, it had total revenue of 440.38 million baht and net profit of 47.19 million baht. In 2025, it had total revenue of 248.09 million baht and net profit of 148.30 million baht. Meanwhile, its net profit margin rose from 15.66% in 2023 to 59.78% in 2025. Krungsri Securities expects this deal to potentially generate an additional 200 million baht in profit per year for PLANB, or an upside of around 11-13% to 2027 profit, and has named it a Top Pick in the sector.

Impact on assets 2

Communication Services▲
Plan B Media PCL
PLANB
▲ PositiveCapitalrelevance

PLANB subscribes to iCare's 860M baht capital increase for a 46.28% stake, expected to add ~200M baht profit/year and named a Top Pick.

Consumer Discretionary▲
Com7 PCL
COM7
± MixedCapitalrelevance

iCare, a subsidiary of COM7, is issuing new shares to PLANB; COM7 is only context as the parent, no direct COM7 action.

Off-coverage companies 2

iCare Insurance Public Company Limitedi
Private▲ PositiveCapitalrelevance

iCare receives an 860M baht capital injection from PLANB via newly issued shares, funding growth in device-protection insurance.

Krungsri Securities Public Company Limitedi
Private± Mixedrelevance