mai welcomes listing of fertility service provider "IVF" on December 11

IVF provides comprehensive fertility treatment services, encompassing expert medical consultation, fertility treatment planning, and diagnostic-based assisted conception solutions including ICSI and IUI to optimize pregnancy success rates. Situated at the Ploenchit Center, IVF's sophisticated 1,000-sq.m. fertility center houses an elite team of reproductive specialists, comprising a full-time doctor, six part-time doctors, and six specialized scientists. The company's business model focuses on two core service segments: 1) comprehensive fertility treatment and associated services, including specialized preconception health programs for couples, advanced preimplantation genetic testing (PGT), and fertility solutions, and 2) preventive and regenerative medicine services catering to the broader healthcare needs of its general clientele. In the first nine months of 2024, the company's revenue distribution showed that infertility treatments and related services accounted for 90 percent of total revenue, while preventive and regenerative medicine services contributed 8 percent, and other revenue sources made up the remaining 2 percent. Foreign patients represent 80-90 percent of IVF's target customer base.

IVF has a paid-up capital of THB 220 million after the IPO, consisting of 310 million existing ordinary shares and 130 million newly issued shares with a par value of THB 0.50 per share. Of these IPO shares, at least 57.5 million shares were offered to subscribers at the underwriters' discretion, up to 40 million shares to institutional investors, up to 19.5 million shares to the company's patrons, and up to 13 million shares to the company's directors, executives and employees from November 29 to December 3, 2024 at THB 3.10 per share. The offering size is THB 403 million with the IPO market capitalization of THB 1.36 billion (approximately USD 39.6 million) and the price-to-earnings (P/E) ratio of 44.93 times. The earnings per share is THB 0.069, calculated from the company's net profit over the last four quarters (from October 1, 2023 to 30 September, 2024) which totaled THB 30.36 million, divided by fully diluted shares. Finnex Advisory Co., Ltd. is the financial advisor and Kingsford Securities pcl is the lead underwriter.

IVF Chief Executive Officer Kasinee Kuldiloke emphasized the company's dedication to strengthening brand awareness and continuously elevating service quality to reinforce customer trust, highlighting the company's international certifications from AACI, ISO9001:2015, GHA, and Temos as testaments to its exceptional standards of care. She noted that IPO proceeds will be allocated toward expanding the company's branch network, developing complementary wellness-related services, and strengthening working capital.

IVF's major shareholders after the IPO are Chanachai Joonjiraporn's group (46.82 percent), Puttipong Poomsuwan (11.91 percent), and Bundit Anantamongkol (4.20 percent). The company's dividend policy is to pay shareholders a minimum of 50 percent of its net profit after corporate income tax, all legally mandated reserves, and other provisions.

For more information on IVF, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th, and general information on www.inspireivf.com and www.set.or.th.