KUALA LUMPUR (March 26): PMCK Bhd, a Kedah-based healthcare services provider, said on Wednesday that it has secured approval from Bursa Malaysia for its ACE Market listing.

PMCK said it intends to use the proceeds raised from its initial public offering (IPO) to fund the company’s expansion plans, including the RM193 million PMC Kulim project — a 12-storey medical centre integrated with a mixed-use development, scheduled for completion in the first quarter of 2028.

“This listing enables us to accelerate our vision while maintaining financial discipline through strategic partnerships and streamlined operations,” PMCK managing director Datuk Lee Gaik Cheng said in a statement.

PMCK operates the Putra Medical Centre in Alor Setar, offering specialist consultant services, emergency care and clinical support. It has treated about 128,000 patients over the past three years, supported by 40 consultants across 17 specialisations.

For the financial year ended 2024, PMCK’s net profit rose by nearly 40% year-on-year to RM15.02 million, as revenue increased 5% to RM104.34 million.

The IPO involves a public issue of 272.6 million new shares and an offer for sale of 32.72 million existing shares at a price to be determined later, according to the draft prospectus posted on Bursa in December last year.

“Post-listing, PMCK will consolidate its other businesses in Kulim [Poliklinik Unik and Klinik Pergigian Unik] under PMC Kulim to enhance operational efficiency,” it said.

“The project’s mixed-use component is also expected to diversify revenue streams, contributing to long-term sustainability,” it added.

Malacca Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.