Datuk Dr Colin Lee Soon Soo, group managing director of Alpha IVF Group (left) and Tracy Chen Wee Keng, CEO of AmInvestment Bank
KUALA LUMPUR: Alpha IVF Group Bhd has signed an underwriting agreement with AmInvestment Bank Bhd in conjunction with its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
In a statement, the fertility care specialist said the IPO exercise entails 1,46 billion shares in Alpha IVF, representing 30% of the enalrged share capital, comprising 364.5 million new shares and 1.09 billion offer-for-sale shares.
The IPO consists of an institutional Offering of 1,24 billion 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 Datuk Dr Colin Lee Soon Soo said part of the IPO proceeds will help to execute its growth strategy of strengthening its operations in Malaysia, while also expanding its 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," he said.
Barring unforeseen circumstances, Alpha IVF will be listed on the ACE Market in the first quarter of 2024.
AmInvestment Bank is the principal adviser, sponsor, lead bookrunner and sole underwriter for the group’s IPO exercise.
