The Stock Exchange of Thailand (SET) will list Medeze Group pcl, a pioneer in internationally-accredited stem cell banking technology, on October 15 under the symbol "MEDEZE". The company has a market capitalization at its initial public offering (IPO) of THB 9.61 billion (approx. USD 290.60 million).
SET Executive Vice President Amnouy Jiramahapoka said that MEDEZE will be listed and start trading on SET in the Services Industry group, Health Care Services sector.
MEDEZE has provided stem cell analysis, isolation, culture, and banking solutions for both newborns (extraction from cord blood and tissue) and adults (extraction from adipose tissue) for over 14 years. The company's services include long-term cell cryopreservation adhering to international standards set by the Association for the Advancement of Blood and Biotherapies (AABB) in the U.S., as well as immunity tests (NK Cells). Driven by a team of medical professionals and field experts, the company has established itself as a trusted partner for both domestic and international clients through its state-of-the-art technologies and innovative solutions.
MEDEZE has a paid-up capital of THB 534 million with a par value of THB 0.50 per share. The company' offered a total of 268 million IPO shares from October 2-4, 2024 in three tranches: not less than 201 million shares were allotted at the underwriters' discretion, up to 40.20 million shares to the company's patrons, and up to 26.80 million shares to directors, executives and employees of the company and its subsidiaries. The IPO price was set at THB 9 per share, representing a total of THB 2.41 billion in funds raised. Yuanta Securities (Thailand) Co., Ltd. was the financial advisor and lead underwriter.
MEDEZE Chief Executive Officer Veerapol Khemarangsan unveiled that the newly raised capital will fuel the company's growth through the strategic expansion of its hair follicle cell banking business and the upgrade of its robotic cell culture capabilities. This move is set to bolster MEDEZE's offerings across its automated stem cell-based spectrum, from preventive healthcare and curative treatments to regenerative therapies and anti-aging medicine, with an aim to elevate its excellence to new heights and cement its position as a leading stem cell innovator in Thailand and ASEAN.
MEDEZE's top three shareholders after the IPO are the Khemarangsan family (58.29 percent), Chumrus Sakulpaisal (13.84 percent), and Assoc. Prof. Dr. Rangsun Parnpai (2.77 percent). The IPO price represents a price-to-earnings (P/E) ratio of 35.55 times and the earnings per share of THB 0.25, calculated from the company's net profit over the past four quarters (July 1, 2023 - June 30, 2024) divided by fully diluted shares. MEDEZE's dividend policy is to pay shareholders not less than 30 percent of its net profit based on the separate financial statements after deductions of corporate income tax expenses and all legal reserves.
For more information on MEDEZE, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th, and general information on www.medezegroup.com and www.set.or.th.