Thai Plastic Surgery Hospital Owner Is Said to Weigh IPO

(Bloomberg) -- 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 fertilization, 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 Thai microfinance company, in seeking a listing in the Southeast Asian nation this year. Buoyed by Central Retail Corp PCL and SCG Packaging PCL, 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.

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