Hunton Andrews Kurth assisted the Praram 9 Hospital (SET: PR9) in filing and listing its shares on the Stock Exchange of Thailand. For the transaction, PR9 offered 180 million shares and may allocate 20 million shares under the greenshoe option.
The entire newly issued shares were allocated to the general public via an Initial Public Offering (IPO) at THB 11.60 each and THB 2,320 million in total. The first day of trading was 30 October 2018.
PR9 provides medical services that includes check-ups, diagnoses, skin care, rehabilitation, X-ray, and surgeries, as well as treatment of joint diseases, kidney, high blood pressure, cancer, diabetes, neurology, vertigo, and headache. Funds raised from the IPO will be used for the renovation and expansion of the hospital in response to growing demand from the increasing number of local and international patients. The fund will support a new 16-storey building to open in Q4 of 2019 with inpatient capacity for 313 beds from 166 at present.
Hunton advised with a team including Yaowarote Klinboon, Teerasak Petchpaibool, Phatamol Phisitbuntoon, Nanthana Thamtherdthai, Apicha Sangchoo and Nattaya Meethom.
Involved fees earner: Yaowarote Klinboon – Hunton Andrew Kurth; Teerasak Petchpaibool – Hunton Andrew Kurth; Phatamol Phisitbuntoon – Hunton Andrew Kurth; Nanthana Thamtherdthai – Hunton Andrew Kurth;
Law Firms: Hunton Andrew Kurth;
Clients: Praram 9 Hospital PCL;