Metro Healthcare makes ACE Market debut

PETALING JAYA: Metro Healthcare Bhd will allocate more than half of its listing proceeds for the expansion of its obstetrics and gynaecology business, as well as refurbishment and upgrading of its business premises.

Metro raised RM39.16mil from its listing exercise. The public portion of the group’s initial public offering of 132.09 million shares was oversubscribed by 38.6 times. Some RM7.34mil of the proceeds has been put aside for working capital.

The company closed with half-a-sen premium at 25.5 sen a share on its debut on the ACE Market of Bursa Malaysia yesterday, giving it a market capitalisation of RM249.6mil.

Metro, first listed on the LEAP Market in 2018, specialises in fertility, obstetrics and gynaecology services, including pre-fertility consultations such as pre-pregnancy screening.