Bangkok--18 Nov--SET
The Stock Exchange of Thailand (SET) welcomes Mega Lifesciences pcl on its main board, listing in the Commerce sector on November 19 under the ticker symbol "MEGA," with a market capitalization at the initial public offering price of THB 15.14 billion (approx. USD 481 million)
SET Executive Vice President Chanitr Charnchainarong reported that MEGA distributes pharmaceutical and consumer products under its “Maxxcare” trademark, and produces nutraceutical products, prescription pharmaceutical products, and over-the-counter medical products under the trademark of “MEGA We Care,” distributing via the company’s own outlets or other distributors in 29 countries worldwide.
MEGA has a paid-up registered capital of THB 432.62 million, consisting of 735.46 million existing and 129.79 million newly-issued shares, with a par value of THB 0.50 each. The company offered 164.36 million shares to the initial public offering at THB 17.50 per share on November 11-13. Kasikorn Securities pcl is the company's financial advisor and underwriter. In addition, existing shareholders, which are Shah’s family, Mr. Vivek Dhawan, and the company’s executives, will sell 42.18 million shares on big lot board on the first trading day to Mindo Asia Investments Limited, a Hong Kong company wholly owned by Lombard Asia IV L.P., and will sell up to 9.78 million shares via Private Placement to not more than 50 persons at the same IPO price.
Vivek Dhawan, CEO of MEGA, said, "We are pleased to have our shares listed on SET. The funds raised will be used to repay bank loans and for working capital and business expansion in domestic and overseas markets.”
MEGA's three major shareholders after the IPO and the big lot board are the Shah family (53.77%), Mr. Vivek Dhawan (7.34%) and Mindo Asia Investments Limited (4.99%). The IPO price was set by book-building. MEGA has a price-to-earnings ratio of 27.7 times, calculated using net profits over the past four quarters (from the third quarter of 2012 to the second quarter of 2013), divided by the number of fully-diluted shares, representing earnings per share of THB 0.63. MEGA's dividend policy is to pay no less than 25 percent of net profits after taxes and reserves.
For more information on MEGA, 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.megawecare.com and www.set.or.th