Techno Medical looking to raise Bt35 bn in share sale
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TECHNO Medical is hoping to sell around 140 million shares to raise Bt35 billion to be used to expand its business next year as the medical-equipment market is expected to continue to have strong growth as a result of the country's ageing society.
Growing demand in Cambodia, Laos, Myanmar and Vietnam (CLMV) is also fuelling growth.
TM has appointed Asset Pro Management as its asset manager to raise the investment funds in the Market of Alternative Investment in 2016.
APM has revealed that the par value of the stocks will be Bt0.25 and TM is expected to have around Bt100 billion worth of paid-up capital by the end of 2015.
“The medical supplies and equipment market is currently worth around Bt40-Bt80 billion and the market has been expanding by around 6 per cent every year,” said TM managing director Soonthree Chanlongbutra.
“And we expect the same expansion next year as a result of the government’s policy to promote Thailand as Asean’s medical hub while the potential growth of disposable medical products is also expected to increase along with the number of ageing people in the region.”
She said that demand for wheelchairs, medical beds and oxygen lines was forecast to continue expanding.
She said that TM wanted to raise the funds to increase its liquidity and use it to increase its capacity and offer a new line of products to serve the needs of the elderly.
Somphob Sakpanpanom, APM chief executive officer, said the expansion was also needed so TM could better tap the increasing demand for disposable medical products from CLMV countries.
He added: “They [TM] have many more channels to expand as Thailand has a chance to become a medical hub for the region as many foreigners from the neighbouring countries are already coming here for medical treatment.
“And the company has a great chance to tap into the supply chain to CLMV countries where the demand is growing and export potential is high.”
