mai will list SEI Medical pcl, a medical supply and equipment distributor, on September 24, 2024, under the ticker symbol “SEI”. The company’s market capitalization at its initial public offering (IPO) is 527 million baht (approx. USD 15.87 million).
mai president Prapan Charoenprawatt said SEI will start trading on mai in the consumer product s industry group.
Products are categorize into five groups
SEI’s main business is as a distributor and service provider of medical equipment. The company sources medical and scientific equipment from 18 leading manufacturers across 11 countries. Products are categorized into five groups: endoscope, neonatal care, aesthetic, surgery, and laboratory.
The target customer base includes government hospitals, medical educational institutions, private hospitals, and clinics.
For the first half of 2024, 90 % of the company’s total revenue derived from sales and 10 % from services and other sources. Government sector clients accounted for 79 % of total sales and service revenue. The main product groups were endoscopy equipment at 52 %, neonatal care products at 42 %, and others at 6 %.
A par value of 0.50 baht per share
SEI’s paid-up capital after the IPO stands at 85 million baht, consisting of 120 million existing ordinary shares and 50 million newly issued shares, with a par value of 0.50 baht per share.
Of the total newly issued shares allocate for the IPO, 37.50 million shares were offer to individuals at the underwriters’ discretion, 7.50 million shares to the company’s patrons, and 5.00 million shares to the company’s directors, executives, and employees during September 16-18, 2024. The IPO price was set at 3.10 baht per share, raising 155 million baht in capital.
The IPO price was equivalent to the price-to-earnings (P/E) ratio of 19.64 times. The earnings per share quals 0.16 baht, calculated from the company’s net profit over the past 12 months (from July 1, 2023, to June 30, 2024) divided by fully diluted shares. Avantgarde Capital Co., Ltd. served as the financial advisor, while Yuanta Securities (Thailand) Co., Ltd. acted as the lead underwriter.
SEI chief executive officer Karn Punyacharoensinsaid that for over 30years in the medical and scientific equipment industry, SEI has been dedicate to improving the quality of life and health of the population through cutting-edge innovations and technologies.
The funds from IPO will be use for business expansion
The funds from the IPO will be use as working capital for business expansion and to enhance potential and competitiveness. This includes working capital for procurement of medical equipment and instruments, expanding the disposable medical supplies business, and embarking on joint ventures with other medical-related businesses, which may include specialty clinics or hospitals.
Following the IPO, SEI’s major shareholders are TheeraPunyacharoensin (35.29 percent) and Karn Punyacharoensin(31.76 percent).The company’s dividend policy is to pay shareholders not less than 40 percent of net profit from its financial statements after taxes and legal reserves.
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