mai President Prapan Charoenprawatt said GFC will be listed and start trading on mai in the Services industry group.
GFC and its subsidiary operate obstetrics and gynecological specialist clinic where experienced doctors and scientific experts provide complete infertility treatment with up-to-date innovations and technologies. The clinic named "Genesis Fertility Center" are located in Rama 3 area and has a combined space of about 1,300 square meters. At the clinics, 14 doctors provide services in 5 categories: 1) Intracytoplasmic Sperm Injection (ICSI), 2) Next generation sequencing (NGS), 3) preliminary examinations before counseling or treatment, 4) egg freezing and oocyte cryopreservation and 5) Intrauterine insemination (IUI). The 5 categories of services generated 70 percent, 18 percent, 8 percent, 3.7 percent and 0.3 percent respectively of the company's total revenue in the first six months of 2023. The company group has both Thai and foreign clients and is investing in two new branches. GFC has invested THB 450.87 million in the 7,900-square-meter Suvarnabhumi-Rama 9 branch and THB 35 million (equity interest) in another branch in Ubon Ratchathani province. Both branches are expected to commence in the first quarter of 2024.
GFC has a paid-up capital of THB 110 million, consisting of 160 million existing common shares and 60 million newly issued shares, with a par value of THB 0.50 each. The company offered 53 million shares to persons at underwriters' discretion, 1.4 million shares to the patrons of the company and its subsidiary, and 5.6 million shares to their directors, executives and employees during September 4-6, 2023, at THB 7 each for a total of THB 420 million in fund raised. The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 21.17 times. The earning per share is equal to THB 0.33, which was calculated from the company's net profit of THB 72.74 million in the four previous quarters (from July 1, 2022, to June 30, 2023) divided by fully diluted shares. Capital One Partners Co., Ltd. is the financial advisor and Globlex Securities Co., Ltd. is the lead underwriter.
GFC Chief Executive Officer Kornpat Achariyamaneekul said the company has been providing medical service for those who experience infertility for more than 20 years through its teams of doctors and scientists who excel in obstetrics, gynecology and reproductive technologies. It has advanced technologies and laboratories, and quality services that meet international standards. These support the effectiveness of its treatment. The proceeds arising from the fundraising will be used to repay loans from financial institutions, expand branches, invest in related and potential business, and as working capital.
GFC's major shareholders after the IPO are Assoc. Prof. Pitak Laokirkkiat (25.46 percent), Pramuk Vongtanakiat (18.18 percent) and Phasiree Orawattanasrikul (14.55 percent). The company's dividend policy is to pay at least 40 percent of net profit from its separate financial statements after corporate income tax and reserves.
For more information on GFC, 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.genesisfertilitycenter.co.th and www.set.or.th.
Source: SET Corporate Communications