SET welcomes Praram 9 Hospital on October 30

Monday 29 October 2018 17:12
The Stock Exchange of Thailand (SET) will list Praram 9 Hospital pcl, a private hospital internationally accredited for complicated disease medical services, on October 30, under the ticker symbol "PR9". The company has a market capitalization at its initial public offering (IPO) of THB 9.05 billion (approx. USD 274.2 million).

SET Senior Executive Vice President Manpong Senanarong said PR9 would list and start trading on SET in the Services industry group, Health Care Services sector. PR9 is a private hospital with 166 registered beds under "Praram 9 Hospital" name, offering a complete range of world-class quality medical services with Joint Commission International (JCI) accreditation of hospital and healthcare services for disease-specific patients namely Praram 9 Kidney Transplantation Institute and Diabetes Metabolic Center.

PR9 has a registered paid-up capital of THB 780 million, consisting of 600 million existing common shares and 180 million newly issued shares, with a par value of THB 1.00 each. It offered 167.50 million newly issued shares (excluding over-allotment of 20 million shares) to retail investors subject to lead underwriter or co-underwriters' discretion, institutional investors, company's patronage, directors and/or executives and employees of the company at THB 11.60 each, and the remaining 12.50 million shares to directors and/or executives who are company's founders at THB 2.65 each, during October 16-19, for a total of THB 1.98 billion. Phatra Securities pcl is its financial advisor and lead underwriter.

PR9 Managing Director Satian Pooprasert said that this listing will help strengthen the capital base and continuously extend service excellence by constructingnew building, renovating existing buildings to increase in-patient beds to 313 by 2022, as well as developing information technology to enhance services and working process capabilities with an aim to transform toward digital hospital and long-term growth.

PR9's three major shareholders after the IPO are Khunying Potjaman Damapong and family (39.50 percent), UBS AG London (1.79 percent) and Pooprasert Family (1.48 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 34.10 times calculated by using the company's net profit in the past four quarters (third quarter of 2017 - second quarter of 2018), divided by fully diluted shares, resulting in an earnings per share of THB 0.34. PR9's dividend policy is to pay no less than 40 percent of net profit after corporate income tax and legal reserves.

For more information, 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.praram9.com, as well as www.set.or.th.