From left: DC Healthcare independent non-executive director Sim Lee San, independent non-executive chairman Datuk Dr Mohd Noor Awang, managing director Dr Chong Tze Sheng, executive director Dr Lai Ngan Chee, independent non-executive director Rekha Palanysamy and independent non-executive director Yap Ee Ling
KUALA LUMPUR: DC Healthcare Holdings Bhd
made its debut on the ACE Market of Bursa Malaysia at 40 sen per share, which represents a premium of 60% over the initial public offering price of 25 sen per share.
The aesthetic medical services provider that specialises in the provision of non-invasive and minimally invasive procedures, raised a total of RM49.81mil from the IPO.
Of the proceeds, RM9.44mil is allocated for the establishment of eight new clinics in the norther and southern regions of Peninsular Malaysia.
Another RM13.12mil will be used to purchase medical machinery and equipment, RM6.24mil allocated for the repayment of borrowings, RM17.01mil for working capital and the remaining RM4mil for listing expenses.
"This is a significant milestone for the Group and evidence of how far we have come as a business to be a leading provider of aesthetic services in Malaysia.
"Through this listing, we not only cement our success, but we can also continue to build on what we have to bring more value to shareholders,” said DC Healthcare chairman Datuk Dr Mohd Noor Awang in a statement.
According to the independent market report attached to DC Healthcare’s prospectus, the Malaysian aesthetic medicine market was valued at RM468.8mil in 2022, up from RM366.3mil in 2021.
It is projected to register a CAGR of 18.8% from 2021 to 2027 to RM1.03bil.
The report noted that demand for aesthetic medical services stems from higher disposable income for Malaysians due to continued economic recovery, and a growing ageing population.
These services are further supported by social media culture that has largely removed the stigma associated with aesthetic medical procedures.
M&A Securities Sdn Bhd, is the principal adviser, sponsor, underwriter and placement agent for the IPO exercise.
