PETALING JAYA: LYC Healthcare Bhd
(LYC) has announced plans to list its subsidiary, LYC Healthcare (Cayman) Ltd (LYC Cayman), on the Nasdaq Capital Market.
.In a Bursa Malaysia filing, the company said that LYC Cayman plans to undertake an initial public offering (IPO) of new ordinary shares on the Nasdaq.
“The offering size is expected to range between US$5mil and US$15mil, subject to the full exercise of the over-allotment option by underwriters.
“The IPO price will be at least US$4 per share, with shares offered to third-party investors,” it said.
Following the completion of an internal reorganisation, LYC Cayman would become the ultimate holding company for LYC’s operating subsidiaries, HC Orthopaedic Surgery Pte Ltd and T&T Medical Group Pte Ltd, the company said in its filing. — Bernama
