UMediC Group Berhad has received approvals from Bursa Malaysia Securities Berhad and Securities Commission Malaysia for admission to the Official List of Bursa Securities. The Group is principally involved in the marketing and distribution of various branded medical devices and consumables as well as the provision of after-sales services for all its products. UMC is also involved in developing, manufacturing, and marketing of its medical consumables.
The IPO will comprise a public issue of 97,224,300 new shares, out of which 18,695,500 will be made available to the Malaysian public while 13,086,800 will be allocated to eligible directors, employees, and business associates which have contributed to the success of the Group. The remaining 65,442,000 shares will be made available through private placements to selected investors.
UMC’s Executive Director/ Chief Executive Officer, Lim Taw Seong said, “We not only expect the demand for medical devices to continue growing but also at an increasing rate. We will do our utmost to capitalise on this opportunity. The group plans to use the IPO proceeds to construct a new factory to expand production as well as storage capacities to meet future market demands.
“UMC is well poised for growth and has around 20 years of cumulated market presence and a strong track record. We have established ourselves as a reputable distributor of medical devices and consumables and have a wide geographic market reach with strong networks spanning across most healthcare-related facilities, both locally and overseas,” he added.
Affin Hwang Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Placement Agent, and Sole Underwriter for this IPO exercise.
