Vichaivej submits IPO filing
Vichaivej International Group has submitted the initial public offering (IPO) filing, planning to sell 135 million shares early next year.
The group operates three hospitals in Om Noi, Nong Kham and Samut Sakhon. It would be listed on the Stock Exchange of Thailand under Srivichai Vejvivat Plc. The proceeds raised from the IPO would be used to expand its business, including a sport science clinic, a holistic anti-ageing centre, and a holistic cancer centre.
Saisunee Vanadurongvan, CEO of Srivichai Vejvivat, said in a statement that despite economic uncertainties, the hospital business shows high growth potential. With appropriate risk management as well as a stable flow of patients, the company said it would enjoy continued growth.
The group showed Bt512.94 million in revenue in the first six months of this year. Its revenue in 2010 reached Bt958.48 million, up from Bt907.29 million and Bt781.21 million in 2009 and 2008, respectively.
"The filing is submitted amid slumps in global stock markets. But we're convinced that the medical industry would demonstrate stable growth. Depending on domestic demand, it would be shielded from external factors," said Montree Sornpaisarn, CEO of Kim-Eng Securities (Thailand) - the underwriter.
