SET welcomes private hospital operator “PHG”

Editorial Staff

SET welcomes private hospital operator “PHG” on July 6

The Stock Exchange of Thailand (SET) will list PatRangsit Healthcare Group pcl, a leading private hospital operator in Pathum Thani province, which specializes in providing healthcare services for Cardiovascular disease and complex disease for maternal and child health, on July 6 under ticker symbol “PHG”.

The company has a market capitalization at its initial public offering (IPO) of 6.30 billion baht(approx. USD 176.97 million).

SET senior executive vice president Manpong Senanarong said that PHG will be listed and start trading on SET in health care services sector, the services industry group.

PHG has engaged in the private hospital business, providing general and specialized medical services, collectively referred to as " PatRangsit Hospital Group" for over 37 years. PHG is considered the first private hospital in Pathum Thani province and has expanded its service continuously by establishing two additional hospitals namely Mother and Child PatRangsit Hospital and PatRangsit 2 Hospital.

The company has a total of 270 registered beds and over 1,000 healthcare professionals to serve general customers, customers under the government welfare program and foreign customers in Pathum Thani provinces, Northern Bangkok, and nearby provinces. PHG has expertise in specialty services consisting of a 24-hour heart center with ability to perform open-heart surgery, pediatrics, and obstetrics and gynecology for complex disease treatment.

PHG has a paid-up capital 300 million baht, consisting of 246 million existing ordinary shares and 54 million newly issued shares, with a par value of 1 baht each. It allocated 40.53 million newly issued shares to the person pursuant to discretion of the underwriter, 8.1 million shares to the company’s patrons, and 5.37 million newly issued shares to directors, executives, employees of the company and its subsidiaries, during June 28-30, 2023 at 21.baht each, for a total of 1.13 billion baht in fundraising.

The IPO price was equivalent to price-to-earnings ratio (P/E ratio) of 26.58 times. The earnings per share is equal to 0.79 baht, which was calculated from the company’s net profit in the past four quarters (April 1, 2022 to March 31, 2023), divided by fully diluted shares. Pioneer Advisory Co., Ltd. is the financial advisor, while Kingsford Securities pcl and Krungsri Securities pcl are the joint lead underwriters.

PHG chief executive officer Ronnachit Yaemsaard said the listing on the stock exchange will strengthen the company’s capital for business growth according to the company's current business expansion plans, driving society by providing better healthcare services and adding value in the long run. The fund raised will be used to expand vertical integration for further development in medical potential of elderly and gynecology diseases, and comprehensive cancer care to develop the hospital group to be tertiary hospital in the future.

PHG’s major shareholders after the IPO are 1) the Trakulchang family group (37.22 %); 2) the Yaemsaard family group (28 %); and 3) Aphiradee Disabaedya (2.25 %). The company’s dividend policy is to pay at least 50 percent of net profit from separate financial statements after corporate income tax and legal reserves.