KUALA LUMPUR: Metro Healthcare Bhd
has entered into an underwriting agreement with MIDF Amanah Investment Bank Bhd to underwrite 34.26 million shares in conjunction with Metro's listing transfer to the ACE Market of Bursa Malaysia.
The healthcare provider, which is currently listed on the LEAP Market, said its initial public offering (IPO) on the ACE Market entails an issuance of 156.63 million new shares, representing 16% of the group's enlarged share capital of 978.91 million shares.
Of the new shares, 3.5% of the enlarged share capital are made open for application to the Malaysian public and pink form and 12.5% of the enlarged share capital, to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
“The ACE Market’s broader investor base will not only increase liquidity for our shares but also raise our company profile and potentially attract strategic partners.
"This transition also provides us with a larger fundraising platform, giving us access to the capital needed to support our expansion plans and invest in strategic initiatives that will accelerate our future growth," said Metro managing director Lim Wai Khong in a statement.
MIDF Amanah Investment Bank is the appointed principal adviser, sponsor, underwriter and placement agent for Metro’s IPO.
