Healthcare Services Group PMCK Plans ACE Market Listing

KUALA LUMPUR, 11 December 2024 – Healthcare services group PMCK Bhd is planning to float its shares on the ACE Market of Bursa Malaysia to raise funds for the repayment of bank borrowings to be drawn to finance the building of a private medical centre in Bandar Kulim, Kedah, and the acquisition of new equipment.

Known as Unique Luxury Holdings Sdn Bhd before assuming its current name in August this year and converted to a public limited company a month later, the group also provides specialist consultant, dental and polyclinic services.  It is planning an initial public offering (IPO) comprising 272.6 million new shares at an issue price to be fixed, according to its draft prospectus.

This comprises 54.53 million shares for application by the Malaysian public, 43.62 million shares for its eligible directors and staff, 136.33 million shares by way of placement to Bumiputera investors, and 38.12 million shares by way of placement to selected investors.

There will also be an offer for sale of 32.72 million existing shares by its selling shareholders Lim Kim Huat Holdings Sdn Bhd (LKH Holdings) and Dato’ Lee Gaik Cheng via private placement to selected investors.

Lee is PMCK’s managing director. She currently holds a direct 19.9% stake in the company, with 77.2% indirectly held under LKH Holdings, together with PMCK’s deputy executive chairman Dato’ Dr. Lim Kim Huat.

Lee’s direct stake will be trimmed to 14.42% post-IPO, while LKH Holdings’ will be reduced to 55.41%.

PMCK made a net profit of RM15.05 million in its financial year ended April 30, 2024 (FY2024), up from RM10.73 million in FY2023, as revenue climbed to RM104.34 million from RM99.85 million, while its after-tax profit margin rise to 14.39%, from 10.75%.

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

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https://theedgemalaysia.com/node/737323 – The Edge Malaysia, 11 December 2024