From left: PMCK Bhd managing director Datuk Lee Gaik Cheng, PMCK deputy executive chairman Datuk Dr Lim Kim Huat, Malacca Securities Sdn Bhd managing director Lim Chia Wei and Malacca Securities vice-president, corporate finance Tan Sin Jiang.
KUALA LUMPUR: PMCK Bhd
(PMCK) has inked an underwriting agreement with Malacca Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd, scheduled for the third quarter of 2025.
In a statement today, the private healthcare service provider said the IPO comprises the issuance of 272.60 million new shares and an offer for sale of 32.72 million existing shares.
"Of the 272.60 million new shares, 54.53 million will be made available to the Malaysian public through balloting, and 43.62 million to eligible directors, employees, as well as persons who have contributed to the success of the company.
"Meanwhile, 136.33 million shares are reserved for private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry, and 38.12 million shares by way of private placement to selected investors," it said.
Pursuant to the underwriting agreement, Malacca Securities will underwrite a total of 98.15 million shares, which includes 54.53 million shares made available to the Malaysian public and 43.62 million shares allocated to eligible persons.
It said PMCK plans to utilise the proceeds from its IPO for several strategic purposes, including the repayment of bank borrowings, particularly those incurred for the construction of Putra Medical Centre Kulim (PMC Kulim).
"PMC Kulim is designed with a focus on expanding clinical support services, particularly in outpatient care, to meet the evolving needs of the community," it said.
Managing director Datuk Lee Gaik Cheng said over the past 30 years, the company has grown to become a recognised name in the northern region, with a 71 per cent bed occupancy rate last year.
"Our upcoming new medical centre in Kulim marks a major milestone in our growth journey, designed to expand access to care across Kedah, Perlis, and Penang.
"This underwriting marks a significant step forward in our journey, and we look forward to building a healthier, smarter, and more connected future in Malaysian healthcare,” he said.
Malacca Securities is the principal adviser, sponsor, underwriter, and placement agent for the IPO exercise. - Bernama
