Market for Alternative Investment (mai) will list Saintmed pcl, a distributor of imported medical instruments and equipment for the country's leading medical centers, and individuals, on June 17, under the ticker symbol "SMD". The company has a market capitalization at its initial public offering (IPO) of THB 1.54 billion (approx. USD 49.50 million).
mai President Prapan Charoenprawatt said SMD would list and start trading on mai in the Consumer Products industry group.
SMD is a distributor of various medical devices covering critical care , respiration, and cardiology products, among others. These are imported products from leading manufacturers in countries, such as the United States, Germany, Australia, Switzerland and China. In addition, SMD also provides maintenance and rental services for medical devices. In December 2020, the company together with the Karnchanaphisek Medical Center of the Faculty of Medicine Siriraj Hospital at Mahidol University provided sleep test service to patients, in accordance with their collaborative agreement. SMD's customer base ratio in 2020 consisted of hospitals, universities and government medical institutions totaling 71 percent, while juristic persons, individuals, private hospitals, clinics and dealers accounting for 29 percent.
SMD has a registered paid-up capital of THB 107 million, consisting of 160 million existing common shares and 54 million newly issued shares, with a par value of THB 0.50 each. It offered up to 45.90 million newly issued shares to persons under the underwriters' discretion, and not over 8.10 million shares to the company's directors, executives and employees during June 9 - 11, 2021 at THB 7.20 each for a total of THB 388.80 million. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 17.52 times. The earnings per share is equal to THB 0.41, calculated from the company's net profit of THB 87.97 million in the past 12 months (from April 1, 2020 to March 31, 2021), divided by fully diluted shares. Capital One Partners Co., Ltd. is its financial advisor, and Globlex Securities Co., Ltd. is the lead underwriter.
SMD Chief Executive Officer Viroje Vasusuttikulkant said that SMD's management has gained 20 years of experience and expertise in the import and sales of medical equipment, and as distributor of products from over 30 manufacturers worldwide under the leading brands such as Mindray, ResMed, Mortara, Welch Allyn and Somnomedics, and more. The company is determined to be a leading distributor of medical products, especially those concerning respiration and life-saving. SMD plans to use the fund raised to finance a sleep examination center project, invest in medical equipment rental, repay its loans to financial institutions, and as working capital.
SMD's 3 largest shareholders after the IPO are Khunwisetphong family (24.88 percent), Vasusuttikulkant family (17.94 percent) and Boonprasit family (17.94 percent). The company's dividend policy is to pay no less than 30 percent of net profit after corporate income tax and legal reserves.
For more information on SMD, 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.saintmed.com and www.set.or.th.