- Grace Water Med pcl, a manufacturer and distributor of hemodialysis solution and disinfectants for dialysis machines, to be traded on LiVEx under the symbol “GWM25” on September 19, 2025.
LiVEx President Prapan Charoenprawatt announced that Grace Water Med pcl will be listed and start trading on LiVE Exchange (LiVEx) under the symbol “GWM25” on September 19, 2025. GWM25 is a subsidiary of mai-listed JSP Pharmaceutical Manufacturing (Thailand) pcl (JSP) and one of the enterprises participating in the preparatory programs provided by LiVE Platform to strengthen capabilities of enterprises and accelerate their growth.
GWM25 specializes in comprehensive renal care products and services for hemodialysis clinics and centers within public and private hospitals. The company’s four core businesses are:
- Manufacturing and distributing hemodialysis solutions and disinfectants for dialysis machines
- Distributing equipment and supplies for hemodialysis treatment
- Designing and installing water purification systems for hemodialysis treatment
- Distributing nutritional supplements and cosmeceutical products for kidney patients.
GWM25 targets three key customer segments:
- Hemodialysis clinics
- Hemodialysis centers at private and public hospitals
- Medical supply and equipment distribution companies reselling the group’s hemodialysis solution, disinfectants, and medical products to hemodialysis treatment facilities.
GWM25 has a paid-up capital of THB 46.59 million, consisting of 80 million existing ordinary shares and 13.17 million newly issued shares with a par value of THB 0.50 per share. The company offered 13.17 million IPO shares to qualified investors as specified by the Securities and Exchange Commission (SEC) from September 12–15, 2025 at THB 2.00 per share, representing the offering size of THB 26.34 million with the IPO market capitalization of THB 188.30 million (approximately USD 5.92 million). CGS International Securities (Thailand) Co., Ltd. is the underwriter.
GWM25 Chief Executive Officer Thongchai Pami highlighted the company’s commitment to elevating its manufacturing standards through investments in cutting-edge technologies while expanding the company’s product and service portfolio to better serve customers and kidney patients to reinforce the company’s excellence and expertise in integrated hemodialysis solutions. GWM25 plans to deploy IPO proceeds across investments in dialysis machine business and water purification system for hemodialysis treatment, loan repayment, and working capital.
Major shareholders of GWM25 after the IPO is JSP Pharmaceutical Manufacturing (Thailand) pcl (45.33 percent), Wisit Prasithsirikul (17.67 percent), and Cholada Marutvong (8.43 percent). The company’s dividend policy is to pay shareholders a minimum of 40 percent of its consolidated net profit after all legally mandated reserves and other provisions as stipulated in the company’s bylaws.