Bangkok--26 Jul--SET
The Stock Exchange of Thailand (SET) will list Ekachai Medical Care pcl, a private hospital in Samut Sakhon province, on July 27, under the ticker symbol "EKH." The company has a market capitalization at its initial public offering (IPO) of THB 1.83 billion (approx. USD 52 million).
SET Senior Executive Vice President Santi Kiranand said EKH would list and start trading on SET's Services industry group, Healthcare sector. The company operated a 100-bed private hospital named "Ekachai Hospital" in Samut Sakhon province, south of Bangkok, providing medical care services for in-patients and out-patients primarily for the nearby residents and those in neighboring provinces with specialty in Obstetrics and Pediatrics as well asemergency cases. Its main customers were from both individual cash payment and corporate contract patients.
EKH has a paid-up registered capital of THB 300 million, consisting of 433.20 million existing common shares and 166.80 million newly-issued shares with a par value of THB 0.50 each. During July 15 and 20-21, 2016, EKHoffered 156.80 million newly issued shares to the general public via IPO and 10 million shares to directors, executives and employees at THB 3.05 each, for a total of THB 508.74 million. Finansia Syrus Securities pcl is its financial advisor and underwriter.
EKH Executive Director and Hospital Director Amnaj Eur-Areemitr said this listing would strengthen the EKH'sfinancial capabilities and support EKH's business plan to build a new one-stop pediatrician center, renovate existinghospital building and car park, as well as increasing working capital. EKH aimed to fulfill the role as a leading hospital by raising quality and services to international standards.
EKH's three major shareholders after the IPO are Oerareemitr group (19.66 percent), Tangsajjapoj group (18.01 percent), and Panyasakorn group (4.62 percent). The IPO price, set by price-to-earnings ratio (P/E ratio) of 30.50times, calculated by using the company's net profit in the past 12 months (April 1, 2015-March 31,2016) divided by fully diluted shares, representing earnings per share of THB 0.10. EKH's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.
For more information on EKH, 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.ekachaihospital.com, as well aswww.set.or.th .
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