KUALA LUMPUR (March 29): Confinement centre operator LYC Healthcare Bhd said its 64.5%-owned subsidiary LYC Medicare Singapore Ltd has lodged a new preliminary offer document with Singapore Exchange Ltd (SGX) for its listing proposed on the SGX’s Catalist board.

In a statement on Friday, LYC Healthcare said that Evolve Capital Advisory Private Ltd will be the new sponsor to guide the initial public offering (IPO) for LYC Medicare.

LYC Medicare appointed Evolve last October after its previous sponsor and issue manager ZICO Capital Pte Ltd discontinued its services for the proposed listing.

The proposed listing was initially expected to be completed by the first half of 2023, according to its past filing in January 2023.

LYC Healthcare managing director cum group chief executive officer Sui Dong Hoe said that the new offer document with SGX marks a significant phase in LYC Healthcare’s journey.

“It aligns with our vision to strengthen our brand in the Southeast Asian healthcare landscape. We are eager to embark on this journey, confident that it will enrich our market presence in Singapore and reinforce our commitment to delivering superior healthcare services across the region,” Sui said.

Shares in LYC Healthcare closed unchanged at 18.5 sen on Friday, valuing the group at RM128.78 million. The counter has fallen by 7.5% year-to-date and declined by 28.85% in the past one year.