KUALA LUMPUR: ACE Market-bound Alpha IVF Group Bhd’s initial public offering (IPO) has been subscribed by 2.73 times.
In a statement, the fertility care specialist said it had received a total of 6,894 applications for 530.1 million shares, with a total value of RM169.6mil, versus the 194.4 million shares that were made available for application by the Malaysian public.
“Further, for the institutional offering of 1.24 billion shares, comprising 1.09 billion offered shares and 145.8 million issue shares, made available to institutional and selected investors, including Ministry of Investment, Trade and Industry (Miti) approved Bumiputera investors) have been fully subscribed by 3.14 times.
“The lead bookrunner and co-bookrunner of the IPO have secured eight cornerstone investors which subscribed 64.6% of the institutional offering excluding the Miti tranche.”
Alpha IVF said the eight cornerstone investors are abrdn Malaysia Sdn Bhd, AHAM Asset Management Berhad, AIA Bhd, Eastspring Investments Berhad, Hong Leong Asset Management Bhd, Kenanga Investors Bhd, Lion Global Investors Ltd and Value Partners Hong Kong Ltd.
The company is scheduled to list on the ACE Market of Bursa Malaysia on March 22, 2024.