The Stock Exchange of Thailand (SET) will list Bangkok Lab and Cosmetics pcl (BLC), a manufacturer and distributor of modern, herbal and animal medicines, cosmetics, and dietary supplements under its own brands - on June 21 under ticker symbol "BLC". The company has a market capitalization at its initial public offering (IPO) of THB 6.30 billion (approx. USD 180.88 million).
SET Senior Executive Vice President Manpong Senanarong said that BLC will be listed and start trading on Personal Products & Pharmaceuticals sector, the Consumer Products industry group.
BLC manufactures and distributes medical products under 485 brands including modern and generic drugs with the same active ingredients as those in original drugs or those no longer protected by patent under brands such as DiabeDerm, Glucosa and GASTRO BISMOL. The company's herbal medicines are also available under various brands including Capsika, KACHANA and Plaivana as well as animal medicines, cosmetics, food supplements, and others. BLC formulates drugs in accordance with the principles of pharmaceutical medicine. It also has a research center that applies new technologies and innovations and conducts research and development to increase the value of its products.
BLC has a paid-up capital of THB 300 million after the IPO with a par value of THB 0.50. The company offered 150 million IPO shares, of which 120 million were newly issued shares and 30 million were existing shares held by Viva Sonata Pte., Ltd. to persons at the underwriters' discretion, institutional investors, and patrons, directors, executives and employees of BLC and its subsidiaries during June 14-16, 2023, at THB 10.50 each for a total of THB 1.26 billion in fund raised. KGI Securities (Thailand) pcl is the financial advisor and the lead underwriter.
BLC Chief Executive Officer Suvit Ngampoopun said the company has strategies to apply innovations and technologies to develop new products. A bulk of the fund raised will be used to construct a new drug plant building to increase its production capacity by about 200 percent, and the remainder will be used to fund the research and development of new generic drugs. The company plans to raise its revenue to THB 2.0 billion by 2026.
BLC's largest shareholders after the IPO are 1) its founders consisting of Suvit Ngampoopun and his wife, Sunisa Mongkolareepong (37.2 percent); 2) Somchai Phisphahutharn (15 percent); and 3) Mr. Subhachai Saibour (3.8 percent). The company's dividend policy is to pay at least 40 percent of net profit from separate financial statements after corporate income tax and reserves required by laws and the company's articles of association. However, the dividend payment is subject to performances, financial status and business expansion plans and others deemed appropriate.
For more information on BLC, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th; and for general information, please visit www.blcplc.com and www.set.or.th.