Cengild debuts on ACE Market at 50% premium of 49.5 sen a share

KUALA LUMPUR: Cengild Medical Bhd made its debut on the ACE Market of Bursa Malaysia at the moment at 49.5 sen a share, a 50% premium to its situation worth of 33 sen.

“Cengild has traveled by a outstanding journey since October 2017 and this IPO has offered us with the platform to understand our ambitions and speed up our growth plans.

“As the one unbiased full-fledged medical middle in Malaysia specializing in gastrointestinal and liver ailments, and weight problems, our goal will not be solely to offer the very best therapy for our sufferers, but additionally to construct a good middle of excellence within the area,” mentioned Cengild Medical govt chairman Datuk Tan Huck Joo in a press release.

The healthcare supplier’s preliminary public providing was oversubscribed 44.53 instances

About RM72.2mil was raised from the IPO whereby RM13mil might be utilized for the growth of its current medical middle at Nexus @ Bangsar South, RM37.1mil will go in the direction of geographical growth by establishing two new full-fledged medical facilities and RM17.4mil might be put aside for working capital, whereas the rest will go in the direction of defraying itemizing bills.

Hong Leong Funding Financial institution Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner for Cengild Medical’s IPO.


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