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| Group to focus on expanding network of clinics across northern and southern regions of Peninsular Malaysia |
SHAH ALAM, Malaysia, July 17, 2023 - (ACN Newswire) - DC Healthcare Holdings Berhad, an aesthetic medical services provider specialising in the provision of non-invasive and minimally invasive procedures, today debuted on the ACE Market of Bursa Malaysia Securities Berhad, opening at RM0.40 per share representing a premium of 60% over the initial public offering (IPO) price of RM0.25 per share.
DC Healthcare 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 of Peninsular Malaysia. The Group 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.
The Group raised a total of RM49.81 million through the IPO, from which RM9.44 million is allocated for the establishment of 8 new clinics across the northern and southern regions of Peninsular Malaysia. Another RM13.12 million of the proceeds will be used to purchase medical machinery and equipment while RM6.24 million of the proceeds is allocated for repayment of borrowings. Another RM17.01 million of the proceed is allocated for working capital purposes The remaining RM4.0 million has been allocated for listing expenses.
Chairman of DC Healthcare, Datuk Dr. Mohd Noor Bin Awang said, "The listing of DC Healthcare, an established aesthetic medical services provider specialising in the provision of non-invasive and minimally invasive procedures, will allow us to benchmark ourselves as the first aesthetic medical services provider to be listed on Bursa Securities."
Managing Director of DC Healthcare, Dr. Chong Tze Sheng said, "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".
Managing Director of Corporate Finance, M&A Securities Sdn Bhd, Datuk Bill Tan said, "We would like to commend the hard work and dedication of Dr. Chong and the DC Healthcare team. The prospects for DC Healthcare are on a positive uptrend based on the rapid growth, demand and success of aesthetic services in Malaysia."
According to the independent market report attached to DC Healthcare's prospectus, the Malaysian aesthetic medicine market was valued at RM468.8 million in 2022, up from RM366.3 million in 2021. It is projected to register a CAGR of 18.8% from 2021 to 2027 to RM1.03 billion.
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.
DC Healthcare Holdings Berhad: http://dchealthcareholdings.com/
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Ms. Sim Lee San, Independent Non-Executive Director, DC Healthcare Holdings Berhad
Datuk Dr. Mohd Noor Bin Awang, Independent Non-Executive Chairman, DC Healthcare Holdings Berhad
Dr. Chong Tze Sheng, Managing Director, DC Healthcare Holdings Berhad
Dr. Lai Ngan Chee, Executive Director, DC Healthcare Holdings Berhad
Ms. Rekha A/P Palanysamy, Independent Non-Executive Director, DC Healthcare Holdings Berhad
Ms. Yap Ee Ling, Independent Non-Executive Director, DC Healthcare Holdings Berhad [L-R]
( https://photos.acnnewswire.com/tr:n-650/20230717.DCHealthcare.jpg )
Topic: Press release summary
Source: DC Healthcare
Sectors: BioTech, Healthcare & Pharm
https://www.acnnewswire.com
From the Asia Corporate News Network
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