KUALA LUMPUR (Oct 5): Alpha IVF Group (KL:ALPHA) is planning to transfer from the ACE Market to the Main Market of Bursa Malaysia, with completion expected sometime in the fourth quarter this year.
The fertility care group said the transfer will be through the accelerated transfer process under the Securities Commission Malaysia’s Equity Guidelines, with shareholder approval required at a general meeting.
“The board believes that the proposed transfer will enhance the company's credibility, prestige and reputation, and accord the company with greater recognition and acceptance amongst investors, including institutional investors. This will in turn enhance the attractiveness and marketability of Alpha IVF shares,” said the group in a bourse filing.
Alpha IVF first listed on the ACE Market on March 22, 2024. Its initial public offering (IPO) price was 32 sen and the group raised RM466.5 million from the exercise.
The company said its daily market capitalisation, based on the volume-weighted average price, stayed between RM1.14 billion and RM1.35 billion from March 27 to Sept 28, 2026, which is above the RM1 billion threshold for the accelerated route.
It has also met profit requirements for the accelerated transfer route, as the group posted an aggregate audited profit after tax and minority interests (Patmi) of RM164.02 million for the three financial years ended May 31, 2026.
After excluding other income of RM15.12 million, such as interest income and gains on investments, adjusted Patmi was RM148.90 million. The adjusted figure for the latest year was RM47.69 million.
The fertility care group said 4,348 public shareholders held about 31.69% of its shares, above the 25% minimum required on the Main Market. It also said it meets the Bumiputera equity requirement, having allocated shares equal to 14.50% of its enlarged share capital to Bumiputera investors at its initial public offering.
The proposals do not affect the group's share capital, substantial shareholders' holdings, net assets, gearing or earnings. Approvals are required from the Securities Commission, Bursa Securities and shareholders, said Alpha IVF.
UOB Kay Hian is the principal adviser for the listing transfer.
At noon break on Monday, Alpha IVF’s shares were up half sen or 1.9% to 27 sen ahead of the announcement. At its last price, the group has a market capitalisation of RM1.31 billion.