DC Healthcare Holdings Bhd has reached an underwriting agreement with M&A Securities Sdn Bhd for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The IPO involves the public issue of 199.26 million shares (20% of the enlarged share capital) and an offer for sale of 99.63 million shares (10% of the enlarged share capital). M&A will underwrite 79.7 million issue shares for the Malaysian public. The remaining shares for selected investors and offer shares will not be underwritten.
DC Healthcare intends to use the IPO proceeds to expand its aesthetic medical clinics. The company has shown strong financial performance, with increasing revenue and a focus on non-invasive and minimally invasive procedures in aesthetic services.