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BANGKOK DUSIT MEDICAL SERVICES PUBLIC COMPANY LIMITED

(BDMS)
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Bangkok Dusit Medical Services : Cancels Over $3 Billion Offer for Bumrungrad Hospital

08/26/2020 | 09:52pm EDT

By P.R. Venkat

Bangkok Dusit Medical Services PCL has canceled its over $3 billion offer to buy shares that it doesn't already own in Bumrungrad Hospital PCL, citing the Covid-19 situation.

"The board of directors... resolved to cancel the tender offer for BH's securities due to the Covid-19 virus situation, which materially affects the economy, investment, various industries, and other businesses in the country," Bangkok Dusit said Wednesday.

In February, Bangkok Dusit had offered up to 102.74 billion baht ($3.29 billion) to acquire a 75% stake in Bumrungrad Hospital.

Bangkok Dusit, Thailand's largest private healthcare provider, had said it could offer up to 20% more than that amount depending on market conditions and Bumrungrad's stock price at the time of the final offer.

Bangkok Dusit's offer was for Bumrungrad's ordinary shares, preference shares and all convertible debentures, which can be converted to ordinary shares.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

Stocks mentioned in the article
ChangeLast1st jan.
BANGKOK DUSIT MEDICAL SERVICES PUBLIC COMPANY LIMITED 1.33% 22.9 End-of-day quote.10.10%
BUMRUNGRAD HOSPITAL PUBLIC COMPANY LIMITED -0.69% 143 End-of-day quote.19.17%
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Financials
Sales 2021 71 899 M 2 151 M 2 151 M
Net income 2021 6 878 M 206 M 206 M
Net Debt 2021 5 796 M 173 M 173 M
P/E ratio 2021 52,9x
Yield 2021 1,25%
Capitalization 364 B 10 901 M 10 889 M
EV / Sales 2021 5,14x
EV / Sales 2022 4,53x
Nbr of Employees 36 775
Free-Float 68,4%
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Mean consensus BUY
Number of Analysts 21
Last Close Price 22,90 THB
Average target price 26,16 THB
Spread / Average Target 14,2%
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Managers and Directors
Poramaporn Prasarttong-Osoth President, Chief Executive Officer & Director
Narumol Noi-Am Chief Financial Officer, Director & Senior EVP
Santasiri Sornmani Chairman
Trin Charumilind Chief Medical Officer
Chairat Panthuraamphorn Chief Operating Officer & Director