Srivichai Vejvivat appoints financial advisor for IPO
Play
Srivichai Vejvivat Plc plans to launch an initial public offering early next year to raise funds for investing in the expanding market for holistic medical services.
Montree Sonrpaisarn, CEO of Kim Eng Securities (Thailand) Plc, the financial adviser for the IPO, expects that the company will submit its filing for the IPO to the Securities and Exchange Commission in a few months.
If the sale of 135 million IPO shares is successful, the company's registered capital will increase to Bt535 million.
Currently, Assoc Professor Vichai Vanandurongwan holds
70 per cent of the company'soutstanding shares, while various financial institutions own 5 per cent. The balance belongs
mostly to directors and doctors.
Dr Vichai, president of
Srivichai Vejvivat, said the company wants to develop a major medical centre that will include a sport science clinic and a physical and mental fitness centre.The cost is estimated at Bt300-400 million.Financing for the project will come from the IPO proceeds plus operating cashflow, which is estimated at Bt100-Bt200 million per year.
This expansion will allow the company to grow and compete under the Asean free trade
and services agreement.
