Market for Alternative Investment (mai) will list JSP Pharmaceutical Manufacturing (Thailand) pcl, a developer, manufacturer and seller of modern and traditional medicines, herbal products, and dietary supplements under both customers' trademark and the company's trademark, on November 2, under the ticker symbol "JP". The company has a market capitalization at its initial public offering (IPO) of THB 3.185 billion (approx. USD 95.79 million).
mai President Prapan Charoenprawatt said that JP would list and start trading on mai in the Consumer Products industry group.
JP is the developer, manufacturer and seller of modern and traditional medicines, herbal products and dietary supplements, providing a wide range of services covering product development consulting, formula development, product registration or food serial number application from the Food and Drug Administration (FDA). In addition, JP also provides services on packaging design, and high-quality manufacturing and process control for both original equipment manufacturer (OEM) products and its own labels. JP's four own product brands comprise COXTM, JSPTM, EVITONTM, and Supap OsodTM. Furthermore, JP has also produced cleaning alcohol products for sales (since 2020) as well as trading business. In 2020, JP's revenue ratio classified by OEM products : own-brand products : others were 55:21:24 respectively. The company's multiple distribution channels include convenience stores, modern trade stores, in-house sales team, TV shopping agents, and online platforms.
JP has a registered paid-up capital of THB 227.50 million, consisting of 340 million existing common shares and 115 million newly issued shares, with a par value of THB 0.50 each. It offered not exceeding 113.75 million shares to persons at the underwriter's discretion and institutional investors ; and up to 1.25 million shares to the company's directors, executives, and employees between October 21 and October 25 - 26 at THB 7.00 each , for a total of THB 805 million. The IPO price was equivalent to the price-to-earnings ratio (P/E ratio) of 100 times. The earnings per share is equal to THB 0.07 each, calculated from the company's net profit of THB 31.85 million over the past 12 months (from July 1, 2020 to June 30, 2021), divided by fully diluted shares. Finnex Advisory Co., Ltd. and Siam Alpha Capital Co. Ltd. are the financial advisors, while ASL Securities Co., Ltd. is the lead underwriter.
JP President Sittichai Daengprasert said that the family members have gained extensive experience and expertise in pharmaceutical and herbal business for over 67 years and the business has passed on to the third generation today. It is committed to becoming a leading pharmaceutical company in research and development, manufacturing, as well as distribution of drugs, medical supplies, and nutritional supplements. The IPO proceeds will be used to invest in new product development, market and promote its own brand, renovate and expand the factory both in Bangkok and Lampoon, to repay loans to financial institutions, and as working capital.
JP's two major shareholders after the IPO are Daengprasert family group (70.33 percent), and Private Equity Trust for SME Growing Together (4.18 percent). The company's dividend policy is to pay no less than 40 percent of net profit after all legal reserves and those specified by the company's regulatory requirements.
For more information on JP, please see the company's prospectus at the Securities and Exchange Commission (SEC)'s website at www.sec.or.th; and for general information, please visit www.jsppharma.com , as well as www.set.or.th.