Master Style Co, which owns a plastic surgery hospital in Bangkok, is weighing an initial public offering in Thailand that could raise as much as $100 million, according to people with knowledge of the matter.
The operator of Masterpiece Hospital is working with an adviser to prepare for the listing, which could happen as soon as this year, said the people, who asked not to be identified as the information is private. The company plans to use the proceeds to fund its operations as well as for expansion into new business such as dental and in-vitro fertilisation, the people said.
Master Style will be joining other Thai companies such as PTT Oil & Retail Public Co as well as Ngern Tid Lor Co, a microfinance company, in seeking a listing this year. Buoyed by Central Retail Corp Plc and SCG Packaging Plc, firms raised $4.9 billion in first-time share sales in 2020, up from $3.6 billion a year earlier, according to data compiled by Bloomberg.
Masterpiece Hospital provides a range of plastic surgery and cosmetic treatments, including breast augmentation, liposuction and hair transplant, according to its website.
Deliberations of the share sale are at an early stage and details could still change, the people said. A representative for Master Style couldn’t be reached for comment.