Bangkok--1 Sep--SET
Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, will list LDC Dental pcl, operating dental care center, on September 2, under the ticker symbol "LDC.” The company has a market capitalization at its initial public offering (IPO) of THB 600 million (approx. USD 20 million).
mai President Prapan Charoenprawatt said that LDC would be the first dental care center to be listed on mai. It provided dental services and specialized dental treatment with high quality, under the brand “LDC.” The company has 19 branches of dental center and one general dental clinic located in Bangkok and vicinity areas, and also operated its own Dental Assistant Training Center to train dentist assistants and staff to accommodate business growth.
LDC has a paid-up registered capital of THB 100 million, consisting of 280 million existing common shares and 120 million newly-issued shares, with a par value of THB 0.25. It sold the new shares to the general public via initial public offerings (IPOs) at THB 1.50 during August 26-28 for the total of THB 180 million. Asset Pro Management Co., Ltd. is its financial advisor and Phillip Securities (Thailand) pcl is its lead underwriter.
Watthana Chaiwat D.D.S., LDC’s president, said that the company felt honored and proud that LDC was considered the first dental care service to list on mai. This initiative was the major step to enhance image, reputation, and strengthen the company’s capital. Proceeds of the fundraising would be used for branch expansions to cover the greater Bangkok area, as well as other major cities in the country, boosting business opportunities and revenue ratio to grow continuously and firmly in the future. The company has planned to expand five more new branches in the coming year.
LDC's three major shareholders after the IPOs are Chaiwat family (69.85 percent), Mr. Pichit Chinwitthayakul (0.41 percent), and Kordharmmarit family (0.37 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 75 times, calculated by using the company's net profit in the last four quarters (July 1, 2013 - June 30, 2014) divided by fully diluted shares, representing earnings per share of THB 0.02. LDC's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on LDC, 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.idcdental.com as well as www.mai.or.th.