BDMS sells remaining shares of Bumgrungrad worth 9.3 billion baht

Bangkok Dusit Medical Services (BDMS) announced on Friday that it has sold all remaining ordinary shares in Bumrungrad Hospital (BH), some 90.2 million shares, through the big lot transaction at a price of 103 baht per share.

BDMS Chief Financial Officer Naruemon Noi-am said in the statement on the Stock Exchange of Thailand that the total transaction value is around 9.29 billion baht.

“The percentage of shareholding in BH after the transaction is equal to zero per cent.” Naruemon added.

Earlier in November, BDMS also sold off 90 million shares of BH.

After the transaction was made, Bumrungrad notified the SET that Satit Viddayakorn, the chairman of Principal Capital (PRINC) had acquired the issued and paid-up shares left by the BDMS’s sell-off.

Satit, as a result, became one of the top shareholders of Bumrungrad Hospital with around 90.57 million shares or 11.38 per cent of the company.

Negative Sentiment

Nomura Securities said that it viewed the BDMS’s mass sell-off on BH as negative since the price was lower than the closing price on Thursday.

Initially, BH said that the transaction had no relation to the major shareholders like Sophonpanich group.

The analyst still maintains a ‘Neutral’ rating on BH with the target price of 117 baht per share and suggested to wait for further news on the change of shareholders structure.

BH is set to gradually recover from the effects of the pandemic as some foreign patients will be allowed to enter the country, the analyst added.

As of 15.05 p.m., BH shares trade a 121 baht per share, down 1.22 per cent, with a transaction value of 17.5 billion baht.

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