Chularat Hospital begins trading today on the SET
The Stock Exchange of Thailand has |welcomed Chularat Hospital to its main board.
Chularat Hospital is the second company to list on the bourse this year and starts trading today under the ticker symbol “CHG” in the services industry’s healthcare services sector.
CHG is a private hospital chain in the eastern Bangkok metropolitan area, including Samut Prakan and Chachoengsao provinces.
Chularat has 10 medical services centres – three main hospitals and seven satellite clinics, said Chanitr Charnchainarong, executive vice president of the SET.
The hospital has paid-up registered capital of Bt1.10 billion, with par value of Bt1 per share, consisting of 880 million existing common shares and 220 million newly issued shares.
The company sold 220 million new shares to the general public from May 8-10 at Bt6.30 per share, for a total of Bt1.39 billion.
Thanachart Securities was the financial adviser and underwriter.
Dr Kumphol Plussind, MD and president of Chularat Hospital, said the hospital was delighted to list on the Thai bourse.
“CHG specialises in hand- and microsurgery, with a neonatal intensive-care unit for underweight newborn babies. We also offer stroke treatment and a new, fully integrated Heart Service Centre. In 2012, general clients accounted for 55 per cent of patient revenues and those under the Social Security scheme 45 per cent.”
The IPO proceeds will be used to support growth, expand medical-services centres and procure modern medical equipment to prepare for the expansion of populated and industrial areas in Greater Bangkok and the Eastern region and for the advent of the Asean Economic Community in the near future, he said.
CHG’s three major shareholders after the IPO are Plussind Group with 40.69 per cent, Panyaphol Group with 25.49 per cent and Pattama Leesawadtrakul with 3.72 per cent.
At Bt6.30 per share, the IPO’s price-to-earnings ratio was 20.69 times, calculated using earnings per share of Bt0.30, with net profits based on its performance during the four quarters of last year and the 1.10 billion fully diluted shares after the IPO.
The company’s dividend policy is to pay at least 50 per cent of net profits after reserves. However, dividend payment is subject to change, depending on investment plans and other necessities.
