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From left: Mr. Lim Wai Khong (Managing Director of Metro Healthcare Berhad), Dr. Tee Swi Peng (Executive Vice-Chairman of Metro Healthcare Berhad), Datuk (Dr.) Joseph Dominic Silva (CEO of MIDF Amanah Investment Bank Berhad), Encik Azizi Mustafa (CEO of MIDF Berhad)
Petaling Jaya, 27th September 2024 – Metro Healthcare Berhad has signed an underwriting agreement with MIDF Amanah Investment Bank for the latter to underwrite a total of 34,261,800 ordinary shares in conjunction with the transfer of Metro’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad.
Metro’s initial public offering (IPO) on the ACE Market of Bursa Malaysia entails a public issuance of 156,625,000 new ordinary shares, representing 16.0% of the Group’s enlarged share capital of 978,905,000 shares.
Of the 156,625,000 new shares, 3.5% of the enlarged share capital are made open for application to the Malaysian public and pink form and 12.5% of the enlarged share capital to Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
Metro is principally involved in the provision of healthcare services through its wholly owned subsidiaries, Hospital Wanita Metro Sdn Bhd, Metro IVF Sdn Bhd, K.W. Tee Sdn Bhd and Vision One Diagnostic Sdn Bhd.
Metro's journey began in 1989 when Dr. Tee Swi Peng established a private maternity centre, namely the Tee Maternity and Gynae Specialist Centre in Klang, Selangor.
Over the years, Metro has expanded its services to include fertility treatments under the Metro IVF brand, successfully conceiving its first In Vitro Fertilisation (IVF) baby in 1999.
The Group continued to grow, establishing multiple obstetrics and gynaecology (O&G) healthcare facilities, fertility centres, and a diagnostic imaging centre.
By 2018, Metro was listed on the LEAP Market of Bursa Malaysia and subsequently further expanded their facilities across Malaysia, including Melaka, Negeri Sembilan, Penang, Johor, and Perak.
Today, Metro is a provider of comprehensive women’s healthcare services, including IVF and fertility treatments, with three maternity hospitals, six fertility centres and six clinics across the country.
“Today marks a pivotal milestone for Metro. Our transition from the LEAP Market to the ACE Market signals the next phase in our growth and ambition to provide greater access to high-quality healthcare, particularly in women’s and family health, where we are excited over its long-term growth prospects,” remarked Metro’s Managing Director, Mr. Lim Wai Khong.
“The ACE Market’s broader investor base will not only increase liquidity for our shares but also raise our company profile and potentially attract strategic partners.
"This transition also provides us with a larger fundraising platform, giving us access to the capital needed to support our expansion plans and invest in strategic initiatives that will accelerate our future growth.
"This achievement would not have been possible without the dedication of our team, the trust of our patients, and the strong partnerships we’ve built along the way. We look forward to an exciting future ahead, together as a team.” added Mr. Lim Wai Khong.
“We are excited to partner with Metro Healthcare Berhad as they embark on this significant journey to the ACE Market.
"This IPO represents a pivotal opportunity for Metro to enhance its growth and operational capabilities.
"The funds raised will support their expansion plans and strengthen their position in the healthcare sector, ultimately benefiting their patients and stakeholders.
"We look forward to contributing to their success and continuing to foster growth in this vital industry," said MIDF Investment’s CEO, Datuk (Dr.) Joseph Dominic Silva.
MIDF Amanah Investment Bank Berhad is the appointed Principal Adviser, Sponsor, Underwriter and Placement Agent for Metro’s IPO.
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