DC Healthcare opens at RM0.40, a 60% premium from its original offer price of RM0.25. The company enters the ACE Market with the stock code DCHCARE – 0283.
The IPO involves the issuance of 199.26 million ordinary shares comprising a public issue of 49.81 million new shares and an offer for sale of 99.63 million existing shares.
The IPO Shares were made available for application in the following manner. 49.81 million IPO Shares through balloting to the Malaysian public. 29.89 million IPO Shares to eligible directors and employees of the Group; and 119.56 million IPO Shares to selected investors.
The IPO aims to raise RM49.81mil to fund its growth plans. RM9.44mil of the proceeds will go towards establishing aesthetic medical clinics and RM13.12mil for the purchase of medical machinery and equipment.
RM6.24mil will go towards the payment of borrowings while RM17.01 will be used for working capital including staff salaries as well as medical supplies and consumables. The remaining RM4mil will be used for listing expenses.
Previously, DC Healthcare Holdings announced that the share allocation to the Malaysian public from the initial public offering has been oversubscribed by 59.46 times. A total of 17,614 applications for 3,011,662,400 IPO Shares with a value of RM752,915,600.00 were received from the Malaysian public.
Of this, a total of 7,509 applications for 1,052,785,400 IPO Shares were received for the Bumiputera portion, representing an oversubscription rate of 41.27 times. For the remaining Malaysian public portion, a total of 10,105 applications for 1,958,877,000 IPO Shares were received, representing an oversubscription rate of 77.65 times.
The 29.89 million IPO Shares made available for application by the eligible directors and employees were also fully subscribed. Tricor Investor & Issuing House Services Sdn. Bhd. is the Issuing House and M&A Securities Sdn Bhd, is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.
The organisation plans to open eight new aesthetics clinics, and also to expand its current machines, medical consumables and products. Its expansion plan is centred upon peninsular Malaysia, more specifically Penang, Ipoh, Sungai Petani and Johor. This is with the intention to give its customers better access to its services and also to capture new customers.
