The share price of The Klinique Medical Clinic Public Company Limited (mai: KLINIQ) closed the morning session on its first trading day with a jump by 57.14%, gaining THB14.00 from its IPO of THB24.50 and closed at THB38.50 per share.
The company reported 189% increase for its 2Q22 earnings performance and 67% for the first six months of this year.
Finansia Syrus Securities (FSS) stated that KLINIQ operates esthetic skin care clinics, providing several services, such as treatments, laser, radio frequency, and plastic surgery. It is a leading esthetic clinic, providing one-stop services. At the end of 1H22, KLINIQ had 39 branches. It has several strengths. They include the management’s experience, standard services, and modern equipment. They helped the company gain customer trust in the past 13 years. KLINIQ targets mid-to-high-end customers. They are less sensitive to the economy and service prices. Also, they tend to revisit, which results in repeat purchases. KLINIQ plans six-to-ten branch expansion each year and continued investments in new innovative medical equipment. FSS expected the net profit to see a sharp recovery of 51% Y-Y in 2022 due to the reopening and three-year forward profit growth of 25% CAGR. FSS gave a 2023 target price at THB28 per share.