LYC Healthcare Berhad has indicated that it is considering to list its healthcare business on the Catalist board of the SGX-ST.
The company is not only involved in healthcare but is involved in computing and electronic service and others such as design and development of renewable energy products, trading of electronic and security products and building materials, investment holding, provision of related engineering services and provision of management services.
Details of the Proposed Listing have yet to be determined, however, prior to the completion of the proposed listing, LYC intends to undertake a reorganisation of some of its subsidiaries involved in the healthcare business, for the purpose of forming a listing group vehicle to be listed on the Catalist board of the SGX-ST.
It has stated that the rationale behind the listing is to enable the healthcare business to gain recognition and corporate stature through the listing status of its own in Singapore, in which it already has business presence in, as well as to further enhance its corporate reputation and profile which will assist in expanding its customer base. And also to gain access to the capital market in Singapore for capital raising and to provide the group with financial flexibility for future expansion and growth; and unlock shareholders’ value in the healthcare business and provide transparent valuation benchmark for the same in Singapore.
LYC has appointed Evolve Capital Advisory Private Limited, as the financial advisor and sponsor for the proposed listing. The exercise will pursue after satisfactory due diligence and assessment of suitability for listing by professional advisers, approvals being obtained from the relevant authorities in Singapore and Malaysia as well as the shareholders at the general meeting is convened.
