KUALA LUMPUR: Fertility care specialist Alpha IVF Group Bhd opened flat upon its debut on the ACE Market of Bursa Malaysia, with a trading turnover of 12.99 million shares.
As at 11.45am, the share remained unchanged from its initial public offering (IPO) price of 32 sen a share, and was the most active counter on Bursa Malaysia with 178.04 million units changing hands.
Group managing director Datuk Dr Colin Lee said the group's public listing, which raised proceeds of RM116.6mil, will help it to penetrate the largely untapped market segment of Muslim patients in both domestic and international arenas.
To further this plan, he said its upcoming fourth specialist centre, Alhaya IVF & Women’s Specialists–KL, will be Muslim-friendly and strategically attached to KPJ Damansara Specialist Hospital 2 to reach the hospital's strong customer base of Muslim patients.
“I am excited to see our newest specialist centre set up in a leading hospital in Klang Valley. Not only do we have access to the facilities in KPJ’s state-of-the-art hospital, the icing on the cake is that we are able to bring our IVF successes to even more patients through KPJ, especially the Muslim market," said Lee in a statement.
Meanwhile, Alpha IVF is planning for another two IVF specialist centres in Malaysia, which are to be completed by the end of its financial years ending May 31, 2025, and 2026 respectively.
Outside of Malaysia, the group intends to establish a specialist centre and four satellite clinics in Indonesia as well as another specialist centre in Southeast Asia, and two sales representative offices in China.
The group posted a net profit of RM25.3mil on group revenue of RM80.1mil for the six months ended Nov 30, 2023.
In the previous financial year ended May 31, 2023, the group recorded RM137.5mil in revenue and RM53.2mil net profit, which included a one-off fair-value gain of RM11.3mil.
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