Bangkok--30 Oct--SET
Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, will list Siam Wellness Group pcl, wellness spa and health service provider, on October 31, under the ticker symbol "SPA". The company has a market capitalization at its initial public offering (IPO) of THB 969 million (approx. USD 30 million).
mai President Prapan Charoenprawatt said SPA would be the first spa operator to be listed on mai. The company owned 13 branches in Bangkok and tourist spots in other five provinces, under three brands, namely RarinJinda Wellness Spa (5 stars), Let’s Relax (4 stars), and Sabaii by Let’s Relax (3 stars). It also operated spa-related businesses consisting of RarinJinda Wellness Resort Hotel, Deck 1 restaurant, spa-related products and Blooming School of Traditional Thai Massage, producing therapist staff to supply increasing demand.
It has a paid-up registered capital of THB 142.5 million, consisting of 400 million existing common shares and 170 million newly-issued shares, with a par value of THB 0.25. The new shares issued were offered to the general public via initial public offering (IPO) during October 20-22 at THB 1.70 each for a total of THB 289 million. Globlex Securities Co., Ltd. and Acap Advisory Co., Ltd are its financial advisors. Globlex is also its lead underwriter.
Wiboon Utsahajit, SPA’s president, said that the company felt honored and pleased to be the first spa operator to list on mai. It was a crucial step to boost the company’s image and goodwill, as well as financial strength. The fund raised would be used to repay long-term debt to financial institutions, expand branches, as well as for working capital. This would provide opportunities to increase revenues and grow continuously and firmly in the coming years. The company planned to add at least three new branches per year.
SPA's three major shareholders after the IPOs are Utsahajit group (50.06 percent), Jiravanstit group (20.11 percent) and Morakot group (0.90 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 24.29 times, calculated by using the company's net profit in the past four quarters (July 1, 2013 - June 30, 2014) divided by fully diluted shares, representing earnings per share of THB 0.07. SPA's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
Starting from the first trading day of 2015, mai will announce eight industry groups categorizing from their business aspects, and SPA will then be classified into SERVICE sector. For more information on SPA, 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.siamwellnessgroup.com , as well as www.mai.or.th.
For more information, please contact S-E-T Call Center +66 (0) 2229 2222.
Members of the media should contact the Public Relations Unit, Corporate Communications Dept.:
Kanokwan Khemmalai, tel: +66 (0) 2229 2048 / Arada Kultawanich, tel: +66 (0) 2229 2796.