Two announce plans to raise capital
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Mega Lifesciences and Thaire Life Assurance plan to raise capital from the Stock Exchange of Thailand next year, according to a report to the Securities and Exchange Commission and the SET.
Mega Lifesciences plans to issue 216.31 million shares at par value of Bt0.50 each for an initial public offering early next year; 129.78 million will be new shares, and the remaining 86.52 million shares will be existing shareholders’.
Mega Lifesciences produces pharmaceutical products. It has three production plants, two of them in Thailand and one in Australia. It has capacity to produce 2.1 billion soft gel capsules a year. It plans to increase that annual capacity to 3.8 billion capsules early next year.
The company also has annual capacity to produce 116.7 million hard gel capsules, 239.9 pharmaceutical tablets, and 650 tonnes of pharmaceutical powder.
Mega Lifesciences reported total sales and service revenue of Bt1.55 billion and net profit of Bt113.9 million in the first quarter of this year. The company also has total assets of Bt4.49 billion, total debt worth Bt2.72 billion and equity of Bt1.76 billion.
Meanwhile, Thai Reinsurance announced to the SET that it planned to apply for its subsidiary Thaire Life Assurance to be listed on the bourse next year. Thai Reinsurance will sell its stake in Thaire Life, about 285 million shares, to the market.
