UMediC sparks interest

Prominent industry: Workers in action inside UMediC’s manufacturing plant in Batu Kawan, Penang. The company is a distributor for international medical device companies including Philips, Mindray, GE and Merit.

ONE of the top performing initial public offerings (IPOs) this year has to be medical device maker UMediC Group Bhd. It was listed on the ACE Market of Bursa Malaysia less than two months ago at a price of 32 sen, only to spike up to 90.5 sen this month.

Its share price has since settled at around 80 sen but that is still at a significant 175% above its initial offering price.