mai welcomes international school SISB on November 29

Wednesday 28 November 2018 17:21
Market for Alternative Investment (mai) will list SISB pcl, a private-international school provider and manager, on November 29 under the ticker symbol "SISB". The company has a market capitalization at its initial public offering (IPO) of THB 4.89 billion (approx. USD 148 million).

mai President Prapan Charoenprawatt said that SISB, a leading provider and manager of Singapore international schools in Thailand, would list and start trading on mai in Services Industry Group.

SISB operates as a school license holder to establish international schools under the Private School Act and offers other related educational services. The company, established in 2001, is a pioneer adopting the widely accepted Singapore curriculum as its basic curriculum, especially mathematics and science. Another outstanding point is that it is designed to be taught in three languages, English, Chinese and Thai. Currently, there are five international schools within the group offering educational services for nursery to grade 12. It can accommodate a total of 4,175 students. Four out of five schools were established under the company's license and the other one under its joint venture partner's license.

SISB has a registered paid-up capital of THB 470 million, consisting of 680 million existing common shares and 260 million newly issued shares, with a par value of THB 0.50 each. It offered newly issued shares through underwriters, to institutional investors, the company's patrons, directors, executives and employees of SISB and its schools and subsidiary during November 22-23 and 26, 2018 at THB 5.20 each, for a total of THB 1.35 billion. Finansia Syrus Securities pcl is its financial advisor and lead underwriter.

SISB Chief Executive Officer Yew Hock Koh said that this listing would enhance the company's capabilities, particularly in raising the quality of teaching and learning, cultivating youths for the global economy, while supporting the company's goal to be a leading international school in Thailand and the region. The fund raised from this listing would be for debt repayment to strengthen the school's financial position.

SISB's three major shareholders after IPO are Yew Hock Koh (32.84 percent), Wilawan Kaewkanokvijit Group (29.15 percent), and Nongnapa Thongmee (10.56 percent). The IPO price was equivalent to price-to-earnings (P/E) ratio of 59.59 times, calculated by using the company's net profit in the past four quarters (October 1, 2017 - September 30, 2018) amounting to THB 82.02 million, divided by 940 fully diluted shares, representing earnings per share of THB 0.09. SISB's dividend policy is to pay no less than 40 percent of net profit from the company's separate financial statement 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.sisb.ac.th, as well as www.set.or.th.