Cengild Debuts on ACE Market at 50% Premium of 49.5 Sen a Share

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Cengild Debuts on ACE Market at 50% Premium of 49.5 Sen a Share

Cengild Medical Bhd made its debut on the ACE Market of Bursa Malaysia today at 49.5 sen a share, a 50 premium to its issue price of 33sen.

Cengild has traveled through a wonderful journey since October 2017 and this IPO has provided us with the platform to realize our goals and accelerate our expansion plans.

“As the only independent full-fledged medical centre in Malaysia specializing in gastrointestinal and liver diseases, and obesity, the objective is to provide the best treatment for our patients, to build a topnotch health centre, provide quality services in the region,” said Cengild Medical executive chairman Datuk Tan Huck Joo in a statement.”

The healthcare provider’s initial public offering got record high subscription and was oversubscribed by 44.53 times.

About RM72.2 mil was raised from the IPO wherein RM13mil will be utilized for the expansion of its being medical centre at [email protected] Bangsar South, RM37.1 mil will go towards geographical expansion by establishing two new full-fledged medical centres and RM17.4 mil will be set aside for working capital, while the remainder will go towards defraying listings expanses.

Hong Leong Investment Bank Berhad is the Star Adviser, Sponsor, Sole Underwriter and Sole Bookrunner for Cengild Medical’s IPO.

Source – www.thestar.com.my

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