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GEORGE TOWN – A healthcare services provider is among a few local entities seeking public listing on Bursa Saham Malaysia this year, despite concerns over the global economy.
Despite indications that the global economy may end up being sluggish later this year, DC Healthcare Group Bhd is optimistic on the country’s ability to sidestep major implications from a global slowdown.
DC Healthcare, which is predominantly based in southern Peninsular Malaysia, specialises in the provision of non-invasive and minimally invasive procedures.
The group raised a total of RM49.81 million through the IPO, from which RM9.44 million was allocated for the establishment of eight clinics across the middle and southern regions.
Another RM13.12 million of the proceeds will be used to purchase medical machinery and equipment while RM6.24 million is allocated for repayment of borrowings.
An addition of RM17.01 million of the proceeds is allocated for working capital purposes, while the remaining RM4 million will be used for listing expenses.
It is listed under the stock name of “DCHCARE” and stock code of “0283”.
DC Healthcare currently operates 13 aesthetic clinics in the central and southern regions and provides aesthetic medical services such as facial sculpting and body contouring and general medical services focusing on skin diseases such as psoriasis and eczema, as well as blood test health screening.
DC Healthcare chairman Datuk Dr Mohd Noor Bin Awang told a zoom media briefing that the listing will benchmark the company as the first aesthetic medical services provider to be listed on Bursa.
Its managing director Dr Chong Tze Sheng, meanwhile, said this was a significant milestone for the group and evidence of how far they had 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”.
M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO exercise. – The Vibes, July 17, 2023
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