Shah Alam, July 17: DC Healthcare Holdings Berhad (“DC Healthcare” or the “Group”), a leading provider of non-invasive and minimally invasive aesthetic medical services, made its debut on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) today. The stock, listed under the name “DCHCARE” and stock code “0283,” opened at RM0.40 per share, representing a substantial premium of 60 per cent over the initial public offering (“IPO”) price of RM0.25 per share.
With 13 aesthetic clinics currently operating in the central and southern regions of Peninsular Malaysia, DC Healthcare specializes in a wide range of aesthetic procedures, including facial sculpting, body contouring, treatment of skin diseases like psoriasis and eczema, and blood test health screening.
The Group successfully raised RM49.81 million through the IPO. A significant portion, RM9.44 million, will be allocated towards establishing eight new clinics in the northern and southern regions of Peninsular Malaysia. Additionally, RM13.12 million will be used to acquire advanced medical machinery and equipment, RM6.24 million will go towards the repayment of borrowings, RM17.01 million is allocated for working capital, and RM4.0 million will cover listing expenses.
Datuk Dr. Mohd Noor Bin Awang, Chairman of DC Healthcare, expressed his excitement about the Group’s listing, stating, “Being the first aesthetic medical services provider to be listed on Bursa Securities allows us to set a benchmark for ourselves.
“He believes that this milestone will further solidify their position as a leading provider of aesthetic services in Malaysia.
Dr. Chong Tze Sheng, Managing Director of DC Healthcare, considers the listing a significant achievement and a testament to the Group’s growth.
He emphasized the value it brings to shareholders and the potential for further expansion and innovation.
Commenting on the IPO, Datuk Bill Tan, Managing Director of Corporate Finance at M&A Securities Sdn Bhd, commended Dr. Chong and the DC Healthcare team for their dedication and hard work.
Tan expressed optimism about the prospects of DC Healthcare, citing the robust growth, demand, and success of aesthetic services in Malaysia.
According to an independent market report included in DC Healthcare’s prospectus, the Malaysian aesthetic medicine market witnessed substantial growth, reaching RM468.8 million in 2022, up from RM366.3 million in 2021.
The report predicts a compound annual growth rate (CAGR) of 18.8 per cent from 2021 to 2027, projecting the market to reach RM1.03 billion.
Factors contributing to this growth include increased disposable income among Malaysians due to economic recovery and a growing aging population. Furthermore, the report highlights the influence of social media culture, which has significantly reduced the stigma associated with aesthetic medical procedures.
M&A Securities Sdn Bhd serves as the Principal Adviser, Sponsor, Underwriter, and Placement Agent for the IPO exercise.
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