Dental Corporation to list and trade on Market for Alternative Investment
The Market for Alternative Investment (mai) will list Dental Corporation pcl, dental care group today, under the ticker symbol “D”.
The company has a market capitalization at its initial public offering (IPO) of Bt1.2 billion (approximately US$34.29 million).
Mai President Prapan Charoenprawatt said that “D” would list and start trading on mai in the Services industry group. D and subsidiaries provide a full range of dental services under the brand “BIDC”, “Dental Signature” and “Smile Signature”.
Currently, the D group has a total of 12 branches, consisting of one BIDC, three Dental Signature and eight Smile Signature clinics. There are 10 branches in Bangkok and two branches in Phuket.
D has a paid-up capital of Bt100 million, consisting of 150 million existing common shares and 50 million newly issued shares with a par value of Bt0.50.
During March 23 to 27, it offered newly issued shares to the general public via IPO at Bt6.00 each, for a total of Bt300 million. Asia Plus Advisory Co., Ltd. is the financial adviser, while Asia Plus Securities pcl is the underwriter.
D chief executive Pornsak Tantapakul said the company has over 12 years of experience in operating dental centres and dental clinics with advanced technology, equipment and materials.
The clinics are operated by a highly qualified team of dentists, meeting international standards to serve both Thais and foreigners. D focuses on customers’ safety and satisfaction, he said.
The funds raised would be used for branch expansion, debt repayment and working capital to fulfill the company’s goals.
D’s three major shareholders after the IPO are Tantapakul family (77.18 per cent), Kaewsawang family (0.90 per cent) and Chen Chung Ni (0.50 per cent).
The IPO price was equivalent to the price-to-earnings ratio (P/E ratio) of 28.22 times calculated by using the company’s net profit in the past 12 months (January 1, 2016 to December 31, 2016) of Bt42.52 million, divided by fully diluted shares, representing the share of Bt 0.21.
D’s dividend policy is to pay no less than 40 per cent of net profits after taxes and reserves.
