KUALA LUMPUR (Feb 15): Fertility care specialist Alpha IVF Group Bhd said on Thursday it has signed an underwriting agreement with AmInvestment Bank Bhd for what would be the largest initial public offering (IPO) on the ACE Market.
The IPO comprises 364.5 million new shares and 1.09 billion existing shares, said Alpha IVF, which is expected to be listed by the first quarter of this year, in a statement.
The company is offering 1.24 billion shares to institutional and select investors, including Bumiputeras. The institutional tranche also includes 145.8 million new shares.
The remaining 218.7 million new shares will go to retail offering to be fully underwritten by AmInvestment Bank, it said. Out of the total retail offering, 194.4 million shares will be made available to the Malaysian public via balloting and 24.3 million shares to eligible persons.
"Part of the IPO proceeds will help us execute our growth strategy of strengthening our operations in Malaysia, while also expanding our geographical reach to Indonesia, Cambodia or Laos, and China," Alpha IVF said.
Alpha IVF’s IPO would be the largest ever ACE Market IPO listing on Bursa Malaysia, said AmInvestment Bank chief executive officer Tracy Chen in the same statement.
AmInvestment Bank is the principal adviser, sponsor, lead bookrunner, and sole underwriter for the IPO.