Bangkok--2 Oct--SET
The Stock Exchange of Thailand (SET) will list Wattanapat Hospital Trang pcl, the first private hospital in southern Thailand to list on SET, on October 3, under the ticker symbol "WPH". The company has a market capitalization at its initial public offering (IPO) of THB 2.34 billion (approx. USD 68.82 million).
SET Senior Executive Vice President Santi Kiranand said that WPH would list and start trading on SET in Services industry, Health Care Services sector. With advanced technology, 60-year expertise and experienced staff, WPH operates a 120-bed private hospital named "Wattanapat Hospital Trang" in Trang province in southern Thailand. The hospital's main groups of patients are general patients, corporate contract patients and foreign tourists. It provides one-stop medical care services primarily for the nearby residents and those in neighboring provinces, while also running an international medical clinic in Krabi province, also in the southern part of Thailand.
WPH has a paid-up registered capital of THB 300 million, consisting of 450 million existing common shares and 150 million newly issued shares, with a par value of THB 0.50 each. It offered newly issued shares to general public via IPO, at THB 3.90 each, for a total of THB 585 million, during September 20-22, 2017. Thanachart Securities pcl is its financial advisor and underwriter.
Chief Executive Office Somchai Chansawang said that this listing would strengthen the company's financial capabilities. The fund raised would be used to expand the services by building a new 59-bed hospital in Ao Nang, Krabi province and would expand the hospital in Trang to 212 beds and specialty clinic rooms to serve the high demand from the residents and foreigners, while enhancing the operations to reach international standard and to achieve long-term growth. WPH's three major shareholders after the IPO are Leelawat Group, (72.24 percent), Wisith Amornwithyarak, (1.15 percent) and Sakchai Pothinamthong (1.03 percent). The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 42.67 times calculated by using the company's net profit in the past four quarters (Q3/2016 - Q2/2017) divided by fully diluted shares, representing earnings per share of THB 0.09. WPH's dividend policy is to pay no less than 40 percent of net profit from the company's financial statement after tax and legal reserves.
For more information on WPH, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.wattanapat.co.th , as well as www.set.or.th .