Bangkok--16 Oct--Ogilvy Public Relations
Praram 9 Public Company Limited, or 'PR9', has announced the final price at 11.60 baht per share for its Initial Public Offering (IPO) plan. The company will offer 180 million shares and may allocate 20 million shares for the greenshoe option. Subscription for "PR9" shares is scheduled for 16-19 October 2018 for clients of the underwriters.
Mr. Anuwat Ruamsuke, Managing Director, Head of Capital Markets Department of Phatra Securities Public Company Limited, which is the financial advisor and lead underwriter, said, "According to the book building results, leading institutional investors in Thailand and overseas show avid interest in investing in PR9, indicating their confidence towards the strong fundamental factors and long-term growth potential of the company. Therefore, the price has been set at 11.60 baht per share, which is at the maximum of the book building price range. Subscription for clients of the underwriters will open on 16-19 October 2018."
Dr. Satian Pooprasert, Vice Chairman of the Board of Directors, Executive Committee member, Managing Director and Chief Executive Officer of Praram 9 Hospital, elucidated, "We are thrilled with the high response from investors towards our PR9's IPO plan. We have a plan to grow our business in all areas — from expanding our customer base through medical cooperation with other hospitals to increasing the number of corporate customers, namely insurance companies and companies in surrounding areas, as well as the number of international customers to 15% by 2022. In the meantime, we are constructing new buildings and renovating existing facilities to increasing our capability to support more inpatients and outpatients,"
"We also plan to use advanced technologies to improve our services," Dr. Satian added. "We are improving our corporate image and implementing proactive marketing strategies to grow our customer base and reach new customers, which will ultimately lead to our continuously enhanced capabilities to grow and gain more profits in the future."
Funds raised from the IPO will be used to support business expansion activities, including the construction of new buildings, the renovation of existing buildings, as well as the construction and improvement of facilities for its employees and medical staff. They will also serve to support rising demand and the increasing number of Thai and international customers. The listing will enable the company to transform itself into a true Professional Healthcare Community.
Praram 9 Pcl has appointed Phatra Capital Public Company Limited as the lead underwriter for the IPO.
Interested investors can find more details about PR9 shares, subscription, subscription payment and placement methods, as well as request for the prospectus and subscription forms at the offices the lead underwriter and co-underwriters. The prospectus can be downloaded at www.sec.or.th and http://investor.praram9.com/th, or obtained by contacting PR9's Investor Relations department via Tel. 1270 for more information prior to making an investment decision.
Disclaimer: Investment contains risks. Investors should study the information in the prospectus before making decision.