Thai bourse welcomes medical services provider Chularat Hospital
BANGKOK, May 14, 2013 - The Stock Exchange of Thailand (SET) welcomes Chularat Hospital pcl to its main board. Chularat Hospital is the second company to list on the Thai bourse this year and will start trading on May 16 under the ticker symbol "CHG".
“Chularat Hospital (CHG) will list in the services industry’s healthcare services sector and will start trading on May 16. CHG is a private hospital chain in eastern Bangkok, including Samut Prakan and Chachoengsao provinces. Chularat group has 10 medical services centers including three main hospitals and seven satellite clinics," said SET Executive Vice President Chanitr Charnchainarong.
The hospital has a paid-up registered capital of THB 1,100 million, with a par value of THB 1.00, consisting of 880 million existing common shares and 220 million newly-issued shares. The company sold 220 million new shares to the general public through an IPO on May 8-10 at THB 6.30 per share, for a total of THB 1,386 million. Thanachart Securities pcl is its financial advisor and underwriter.
Dr. Kumphol Plussind, MD, President of Chularat Hospital, said: “Our hospital is delighted to list on the Thai bourse. CHG specializes in hand and micro-surgery, with a neonatal intensive care unit for underweight newborn babies. We also offer stroke treatment and a new, fully integrated Heart Service Center. In 2012, general clients and those under the social security scheme accounted for 55% and 45%, respectively, of patient revenues. Fundraising proceeds will be used to support business growth, expand our medical services centers and invest in modern medical equipment to prepare for the expansion of populated and industrial areas in greater Bangkok and the east and prepare for the advent of the Asean Economic Community in the near future.
CHG's three major shareholders after the IPO are the Plussind Group 40.69 %, Panyaphol Group 25.49%, and Khun Ying Pattama Leesawadtrakul 3.72%. The IPO price was set at THB 6.30 per share, with a price to earnings ratio of 20.69 times, calculated using earnings per share at THB 0.30, with net profits based on its performance during the four quarters of 2012 and the 1,100 million fully-diluted shares after its IPO. Its dividend policy is to pay no less than 50 percent of net profits after reserves. However, dividend payment is subject to change, depending on investment plans and other necessities.