<article>The IPO momentum continues in Thailand.</article>

The IPO momentum continues in Thailand.
Wuttisak Clinic Inter Group, one of the major beauty clinics in Thailand and a subsidiary of WCI Holding, has announced that it will raise over 1 billion baht ($28 million) from an initial public offering (IPO) in the second half of this year.
The firm is currently in the process of preparing financial and accounting papers before submitting the filing to the Office of Securities and Exchange Commission by the middle of this year.
“We want to raise funds to repay our current debt of 998 million baht, and the remaining will go towards our business expansion overseas,” Teerawut Pangviroonrug, chief executive of WCI Holding, told the media.
<a style="color: #000080;" href="http://www.eforl-aim.com/en">E for L Aim Plc</a>, the listed health and medical equipment supplier and the parent company of WCI Holding, acquired the entire shares in Wuttisak Clinic for 4.5 billion baht ($126 million) in 2014.
Wuttisak Clinic, which is well-known as one of the major skincare clinics with 120 branches nationwide, also owns two subsidiaries which run cosmetic and pharmaceutical business.
Currently, 97 per cent of its revenue comes from clinics and three per cent from cosmetic business. However, it aims that the revenue from cosmetics will contribute 10-20 per cent of total.
“We will focus more on cosmetics market as its margin is at least 20 per cent, higher than the profit margin of skincare clinic at 10-20 per cent,” he explained.
This year it projects the revenue will grow by 10 per cent although it has no plans to expand new branches, Teerawut cited.
It has 12 franchisees overseas, of which all are being discussed to change into joint ventures.
“We are considering eight joint venture deals in neighbouring countries. If all current franchisees agree to turn into joint ventures, we will have a total of 20 branches abroad this year. For each joint venture, we want to hold more than 50 per cent,” he cited.
In the first nine months of 2014, Wuttisak made the net profit of more than 100 million baht. It forecasts that the skincare clinic market should expand by 5-7 per cent, while the cosmetics market should grow 20 per cent from last year.
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Wuttisak Clinic Inter Group announced to raise over 1 billion baht ($28 million) from an initial public offering (IPO) in the second half of this year.

Thailand: Skincare-focussed Wuttisak Clinic targets to raise $28m in 2016 IPO

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Thailand: Skincare-focussed Wuttisak Clinic targets to raise $28m in 2016 IPO

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