# Bangkok Genomics Innovation starts quotation on the Stock Exchange of Thailand

- Link: https://www.thailand-business-news.com/health/132017-set-to-start-quotation-of-medical-diagnostics-service-provider-bkgi-on-march-20
- Published: 2024-03-20T10:44:00+07:00
- Author: News Desk

The Stock Exchange of Thailand (SET) will list Bangkok Genomics Innovation pcl, 
a leading medical diagnostics service provider utilizing world-class genomic technology,
on March 20, 2024 under the ticker symbol “BKGI”. The company has a market capitalization
at its initial public offering (IPO) of THB 978 million (approx. USD 27.40 million).

SET Senior Executive Vice President Manpong Senanarong said BKGI will start trading
on SET in the Services industry group, Health Care Services sector.

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## Key Takeaways

 * **Bangkok Genomics Innovation pcl, a leading medical diagnostics provider**, 
   will be listed on the Stock Exchange of Thailand with a market capitalization
   of approximately USD 27.40 million, offering services such as Non-Invasive Prenatal
   Testing and genetic screening.
 * The company aims to use the funds raised from the IPO to expand its genomic medicine
   business and promote healthcare and wellness at all life stages, supported by
   its major shareholder BGI, a global leader in genomic sequencing research.
 * After the IPO, the top three shareholders of Bangkok Genomics Innovation pcl 
   are BGI Health (HK) Co., Ltd, Preecha Laohapongchana, and Ratchapol Asvinvichit,
   with an IPO price equivalent to a price-to-earnings ratio of 30.43 times and 
   a dividend policy to pay at least 40 percent of net profit after corporate tax
   and legal reserves.

BKGI provides laboratory and medical diagnostic services, with the **Non-Invasive
Prenatal Testing (NIPT) for chromosomal abnormalities screening in fetal DNA **from
maternal blood under the widely renowned “NIFTY” brand as its main business.

The company also offers genetic screening service for hereditary disorder and cancers
using advanced Next-Generation Sequencing (NGS) technology for accurate and rapid
results analysis. The company’s services encompass infectious disease testing and
distribution of related products and kits. With quality services supporting better
quality of life at all ages, backed by BKGI’s major shareholder BGI – a global leader
in genomic sequencing research and cutting-edge bioinformatics applications, BKGI
has then gained trust from its customer base.

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BKGI has a paid-up capital of THB 300 million, comprising 440 million existing common
shares and 160 million newly issued shares with a par value of THB 0.50 per share.
Of the total IPO shares, up to 120 million shares were allocated to persons at the
underwriters’ discretion, up to 24 million to the company’s patrons, and up to 16
million to directors, management, and employees during March 12-14, 2024 at THB 
1.63 per share for a total of THB 260.8 million in fund  raised. Finansia Syrus 
Securities pcl is the financial advisor and lead underwriter.

BKGI Chief Executive Officer Saowalak Dansakul said the listing on SET will support
the company’s growth in terms of business and healthcare enhancement in Thailand
in line with its strategic plan. Funds raised will be used as working capital and
to further expand its genomic medicine business. The business expansion is aimed
to promote healthcare and wellness at all life stages to move towards becoming a
leading modern medical science organization deploying advanced technology to uplift
the population’s quality of life.

BKGI’s three largest shareholders after the IPO are 1) BGI Health (HK) Co., Ltd (
37.40 percent), 2) Preecha Laohapongchana (12.22 percent), and 3) Ratchapol Asvinvichit(
7.73 percent). The IPO price was equivalent to the price-to-earnings (P/E) ratio
of 30.43 times. The earnings per share is equal to THB 0.05 which was calculated
from the company’s net profit over the past four quarters (from January 1, 2023,
to December 31, 2023), divided by fully diluted shares. BKGI’s dividend policy is
to pay at least 40 percent of net profit from separate financial statements after
corporate tax and legal reserves.

For more information on BKGI, please see the company’s prospectus at the Securities
and Exchange Commission’s website at [www.sec.or.th](http://www.sec.or.th/), and
general information on [www.bangkokgenomics.com](http://www.bangkokgenomics.com/)
and [www.set.or.th](http://www.set.or.th/).