Fertility care specialist Alpha IVF Group Berhad (Alpha IVF) signed an underwriting agreement with AmInvestment Bank Berhad (AmInvestment Bank) today (Feb 15), in conjunction with the upcoming initial public offering (IPO) of Alpha IVF on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia).
The IPO exercise entails a total of 1,458.0 million ordinary shares in Alpha IVF, comprising 364.5 million new shares and 1,093.5 million offer-for-sale shares. The total number of shares represents 30.0% of the enlarged share capital.
The IPO structure consists of an Institutional Offering of 1,239.3 million shares to institutional and selected investors, including 607.5 million shares to Bumiputera investors approved by the Ministry of Investment, Trade and Industry. Of the total institutional offering, 145.8 million are new shares.
The remaining 218.7 million new shares form the Retail Offering, which will be fully underwritten by AmInvestment Bank. Out of the total retail offering, 194.4 million shares will be made available to the Malaysian public via balloting; and 24.3 million shares to eligible directors, eligible employees, and eligible persons who have contributed to the success of Alpha IVF.
Alpha IVF Group Managing Director Dato’ Dr Colin Lee Soon Soo said, “The signing of the underwriting agreement is a significant milestone in our quest to join the league on the ACE Market of Bursa Malaysia. As we embark on this IPO, we are eager to tap the opportunities that afford us in the capital market.
“Part of the IPO proceeds will help us execute our growth strategy of strengthening our operations in Malaysia, while also expanding our geographical reach to Indonesia, Cambodia or Laos, and China. This will lay the foundation for us to becoming a leading Assisted Reproductive Services (ARS) player in the region.
“Against the backdrop of increasing infertility among young couples and delay in setting up families, we are encouraged that our expansion, both domestically and internationally, is ideally positioned to capitalise on these prospects.”
Meanwhile, AmInvestment Bank Chief Executive Officer Tracy Chen Wee Keng added: “AmInvestment Bank is honoured to play a significant role in Alpha IVF Group Berhad’s IPO which marks the largest ACE Market IPO listing on Bursa Malaysia. Alpha IVF has not only emerged as a renowned fertility centre in Malaysia and Singapore but has also taken a lead in shaping the ARS industry internationally. Their commitment to excellence is well-reflected in their outstanding clinical pregnancy success rates and unwavering dedication to innovative research and development in IVF techniques, surpassing industry standards and setting new benchmarks for excellence.
“Alpha IVF has solidified its prestigious reputation regionally, well-positioning itself for further growth in the thriving ARS Industry. We believe the company is poised to take advantage of its next stage of expansion as it extends its presence in the domestic and international ARS markets.”
Barring unforeseen circumstances, Alpha IVF will be listed on the ACE Market of Bursa Malaysia in the first quarter of 2024. AmInvestment Bank is the principal adviser, sponsor, lead bookrunner, and sole underwriter for the Group’s IPO exercise.
