Bangkok--27 Jul--SET
Market for Alternative Investment (mai) will list Business Alignment pcl, a radiotherapy equipment supplier, on July 28, under the ticker symbol "BIZ". The company has a market capitalization at its initial public offering (IPO) of THB 1.16 billion (approximately USD 32.95 million).
mai President Prapan Charoenprawatt said that BIZ would list and start trading on mai in the Consumer Products industry group. BIZ supplied imported radiotherapy equipment for cancer therapy,and provided full-services from installation to maintenance for large-sized public and private hospitals in Thailand such as Chulalongkorn hospital, The Thai Red Cross Society, as well as faculty of medicine of Siriraj hospital, Ramathibodi hospital, Khon Kaen University (in the northeast), and Prince of Songkla University (in the southern part of Thailand.)
BIZ has a paid-up registered capital of THB 200 million, consisting of 300 million existing common shares and 100 million newly issued shares, with a par value of THB 0.50 each. During July 20-22, it offered newly issued shares to the general public via IPO, at THB 2.90 each, for a total of THB 290 million. Asset Pro Management Co., Ltd isthe financial advisor, While Phillip securities (Thailand) pcl is its underwriter.
BIZ Chief Executive Officer Sompong Chunekitiyanone said BIZ has had more than 15 years of experience with global business partners, as sole distributor in Thailand of Varian Medical Systems Inc., a leading software and radiation therapy equipment for cancer treatment. To strengthen financial capabilities, the fund raised would be used to increase liquidity and increase supply of radiotherapy equipment due to the rising demand in Thailand.
BIZ's three major shareholders after the IPO are Sompong Chunekitiyanone (32.06 percent), Silapusid Family(32.06 percent) and Noppadol Suntanaphanich (6.00 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 49.8 times calculated by using the company's net profit in the past 12 months (April 1, 2015 – March 31,2016) of THB 23.28 million, divided by fully diluted shares, representing earnings per share of THB0.0582. BIZ's dividend policy is to pay no less than 40 percent of net profits after legal reserve.
For more information on BIZ, 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.bizalignment.com, as well aswww.set.or.th.
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