KUALA LUMPUR: Private healthcare service provider, PMCK Bhd
aims to raise RM60mil through its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.
The IPO entails a public issue of 272.60 million new shares at an issue price of 22 sen per share, according to the company’s prospectus.
Based on the company’s enlarged share capital of 1.09 billion shares at the IPO price, the company will have a market capitalisation of RM239.93mil upon listing.
Of the proceeds, it said RM50mil has been earmarked to repay bank borrowings, which will be drawn for the construction of PMC Kulim, a mixed-development that will include a 12-storey private medical centre, carpark, food court, and hotel.
Upon its completion, PMCK will consolidate its existing operations including Poliklinik Unik and Klinik Pergigian Unik into a single integrated facility under PMC Kulim to enhance operational efficiency.
Another RM5.3mil will be used to buy clinical equipment including a fully automated clinical chemistry and immunoassay system and a mammography unit for the new facility.
The remaining proceeds will go towards defraying estimated listing expenses.
The group operates the Putra Medical Centre in Alor Setar, Kedah, offering specialist consultant services, emergency care and clinical support.
The group is supported by 40 specialist consultants, comprising 26 resident and 14 visiting specialists across 17 disciplines.
PMCK managing director Datuk Lee Gaik Cheng said the company was built on a vision of compassion, to ensure no one in the northern region is left behind when it comes to accessing quality healthcare.
“With the launch of PMC Kulim, supported by our IPO proceeds, we are expanding our reach and capacity to meet rising healthcare demands, while continuing to invest in advanced medical technologies and sustainable energy solutions.
“We are very confident that our shares will be fully subscribed as we have received a lot of interest from institutional and other investors,” she told a press conference at the prospectus launch yesterday.
PMCK has demonstrated consistent financial growth and resilience from its financial year ended April 30, 2022 (FY22) to FY24, with revenue rising from RM97.1mil to RM104.3mil and net profit increasing from RM11.5mil to RM15mil, alongside stronger margins of 14.4% in FY24.
PMCK Bhd’s origins can be traced back to 1991 when its founders Datuk Dr Lim Kim Huat and Yu Ching Hsiu acquired Unique Luxury, a private limited company, with the intention to venture into the operation of a medical centre in Kedah.
At the time, Lim already had 17 years of experience as a medical doctor, including running his own private clinic.
Lim’s experience of having to take his mother all the way to Penang for medical treatment inspired him to set up a medical centre on the mainland, so that advanced medical treatment was available to the people of Kedah.
Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO, while Public Investment Bank Bhd and Kenanga Investment Bank Bhd are the joint placement agents.
Applications for the IPO will close on June 25, at 5pm, with its listing scheduled on July 9. — Bernama
