KUALA LUMPUR (July 7): Aesthetic medical services provider DC Healthcare Holdings Bhd, which is slated to list on the ACE Market of Bursa Malaysia on July 17, drew orders worth RM752.92 million for its RM49.81 million initial public offering, with a total of 17,614 applications received for 3.01 billion shares.
This, according to a statement from Tricor Investor & Issuing House Services Sdn Bhd, represents an oversubscription of 59.46 times of the 49.82 million new shares offered at 25 sen per share for public subscription under its IPO.
Of the total applications received, 7,509 applications for 1.05 billion shares were received for the Bumiputera portion — representing an oversubscription rate of 41.27 times.
For the remaining public portion, 10,105 applications for 1.96 billion shares were received, representing an oversubscription rate of 77.65 times.
Besides the 49.82 million public shares, another 29.9 million shares were made available to eligible directors and employees of DC Healthcare, which have also been fully subscribed, according to Tricor.
Also fully taken up was the group's institutional offering of 219 million shares -- comprising the entire public issue of 199.56 million shares to selected investors by private placement, as well as the offer for sale of 99.63 million existing shares.
M & A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for this IPO.
Mercury Securities Sdn Bhd and Apex Securities Bhd have issued a "subscribe" recommendation on DC Healthcare, with a fair value of 60 sen and 57 sen respectively.
Public Investment Bank Bhd, meanwhile, assigned a fair value of 37 sen to DC Healthcare, representing a price-earnings multiple of 16 times its financial year ending Dec 31, 2024's earnings per share of 2.3 sen.