Alpha IVF Group Berhad has increased its ownership in its Singapore fertility healthcare subsidiary to 96.53% following the subscription of additional shares under a rights issue aimed at supporting the unit’s expansion and working capital requirements.
The fertility specialist said it subscribed for 114.77 million additional ordinary shares in Alpha International Women’s Specialists (Singapore) Pte. Ltd. (AIWSS) at SGD0.01 per share, representing a total investment of SGD1.15 million (approximately RM3.57 million).
Following the subscription, Alpha IVF’s shareholding in AIWSS increased from 76.51% to 96.53% of the enlarged share capital.
The company said the rights issue proceeds will be used to strengthen AIWSS’ working capital, support operational expenditure and maintain sustainable cash flow in line with the strategic objectives of the Alpha IVF Group.
The exercise also gives Alpha IVF greater control over the Singapore operation while reinforcing its long-term growth strategy in women’s healthcare and assisted reproductive services.
