Jan29 Adjusts IPO Plan, Targets mai Listing in Early 2026
Bangkok — Jan29 Co., Ltd. (Public), a comprehensive event management and marketing communications provider specializing in the public sector and state enterprises, has adjusted its initial public offering (IPO) plan in line with prevailing capital market conditions, targeting a listing on the Market for Alternative Investment (mai) in early 2026.
Mr. Phachara Sunthornwiphat, Chief Executive Officer of Jan29 Co., Ltd. (Public), stated that the Company has focused on strengthening its internal readiness, including organizational structure, accounting systems, and internal control frameworks, to fully comply with the requirements of the Securities and Exchange Commission (SEC) and the Stock Exchange of Thailand (SET), thereby reinforcing investor confidence and supporting sustainable long-term growth.
Jan29 currently meets the qualifications for listing on the mai. Since 2023, the Company has adopted financial reporting standards for Publicly Accountable Entities (PAEs) and is audited by DIA International Co., Ltd., a licensed audit firm. The Company’s revenue base remains primarily derived from government and state enterprise projects.
Over the past three years, Jan29 has demonstrated consistent operating performance. Revenue increased from THB 343.07 million in 2022 to THB 398.78 million in 2023, representing growth of 16.24%. In 2024, revenue totaled THB 360.47 million, a decrease of 9.61% year-on-year due to political uncertainties and delays in government budget disbursement. Despite this, net profit rose by 8.97% to THB 32.34 million, driven by effective cost management and expansion into private-sector clients.
In 2025, the Company has secured large-scale government projects with a total value exceeding THB 400 million, alongside new private-sector clients, supporting revenue growth momentum. For the period from 2022 to 2024, Jan29 reported accumulated net profit of THB 68.19 million and shareholders’ equity of THB 81.44 million, with a backlog exceeding THB 400 million.
Amid a positive outlook for Thailand’s event industry—projected to reach a market value of approximately THB 14–15 billion in 2025—Jan29 has increased its registered capital from THB 40 million to THB 100 million. The Company plans to offer up to 60 million newly issued ordinary shares, representing approximately 30% of total issued and paid-up shares after the IPO.
Proceeds from the IPO will be used as working capital and to support business expansion under the strategic framework “Innovation, Entertainment & Experience.” Key initiatives include investments in concerts, festivals, the attraction of world-class events to Thailand, and the development of MarTech capabilities such as digital agency services, social listening systems, and customer relationship management (CRM) platforms.
“Listing on the mai will elevate our corporate standards, transparency, and governance, while providing access to capital to support sustainable growth. We are confident in our ability to achieve our revenue target of THB 1 billion during 2026–2027 and to deliver long-term value to shareholders and stakeholders,” Mr. Phachara said.
