Bangkok--4 May--SET
The Stock Exchange of Thailand (SET) welcomes Srivichai Vejvivat pcl to its main board. The company, the latest hospital operator listing on SET in the past seven years, will list and start trading on May 9, under the ticker symbol “VIH,” after it raised THB 168.75 million (approx. USD 5.44 million) through an initial public offering (IPO).
VIH operates three private hospitals under the Vichaivej International Hospital group located in Omnoi, Nongkhaem, and Samutsakhon. It has a paid-up registered capital of THB 535 million, with a par value of THB 1. It has sold 135 million new shares at THB 1.25 each on April 30- May 2. Maybank Kim Eng Securities (Thailand) pcl was the company's financial advisor and underwriter, said SET Executive Vice President Chanitr Charnchainarong.
Vichai Vanadurongwan, VIH’s chairman, said; "We are really pleased to become a listed company on SET. VIH is a private hospital operator with high growth potential. This fundraising will boost VIH’s competitiveness, as proceeds will be used for working capital, business expansion to cope with increasing demand, and loan repayment. We believe VIH will get warm welcome from investors.”
The P/E ratio of the company at its IPO price was 18 times, while its dividend policy is to pay no less than 50 percent of net profits after taxes and legal reserves. VIH's three major shareholders after IPO are the Vanadurongwan group (55.60 percent), TMB Bank pcl (2.87 percent), and Waranya Suchitvas (1.69 percent).
For more information on VIH, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.vichaivej.com and www.set.or.th