{"id":28356,"date":"2022-05-27T14:34:03","date_gmt":"2022-05-27T06:34:03","guid":{"rendered":"https:\/\/umedic.com.my\/Stagging2025\/?p=28356"},"modified":"2023-04-06T16:08:08","modified_gmt":"2023-04-06T08:08:08","slug":"medical-devices-distributor-umedic-gets-sc-nod-for-ace-market-listing","status":"publish","type":"post","link":"https:\/\/umedic.com.my\/Stagging2025\/medical-devices-distributor-umedic-gets-sc-nod-for-ace-market-listing\/","title":{"rendered":"Medical devices distributor UMediC gets SC nod for ACE Market listing"},"content":{"rendered":"<p class=\"p1\">KUALA LUMPUR (May 26): UMediC Group Bhd has received the nod from Bursa Securities and the Securities Commission Malaysia (SC) to list on Bursa Malaysia\u2019s ACE Market.<\/p>\n<p class=\"p1\">The group is issuing 97.22 million new shares, of which 18.69 million will be made available to the Malaysian public, while 65.44 million will be placed to selected investors.<\/p>\n<p class=\"p1\">The company markets and distributes medical devices and consumables, with a cumulative market presence of around 20 years. It is also involved in the development, manufacturing and marketing of its medical consumables.<\/p>\n<p class=\"p1\">UMedIC seeks to raise funds from its initial public offering (IPO) to develop a new factory to expand production and storage capacity, said its executive director cum CEO Lim Taw Seong in a statement.<\/p>\n<p class=\"p1\">\u201cWe not only expect demand for medical devices to continue growing, but also at an increasing rate,\u201d Lim said.<\/p>\n<p class=\"p1\">\u201cWe will do our utmost to capitalise on this opportunity,\u201d Lim added. \u201cFurthermore, we have allocated funds to set up new marketing and distribution offices which will strengthen our domestic presence and reach.\u201d<\/p>\n<p class=\"p1\">For the financial year ended 2021 (FY21), UMediC posted a revenue of RM34.12 million, higher than RM23.68 million in FY20, and RM16.42 million in FY19, mainly due to an increase in revenue from its marketing and distribution segment.<\/p>\n<p class=\"p1\">Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO exercise, UMediC said.<\/p>\n<p class=\"p1\">by Adam Aziz \/ <a href=\"https:\/\/www.theedgemarkets.com\/\"><em>theedgemarkets.com<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>KUALA LUMPUR (May 26): UMediC Group Bhd has received the nod from Bursa Securities and the Securities Commission Malaysia (SC) to list on Bursa Malaysia\u2019s ACE Market. The group is issuing 97.22 million new shares, of which 18.69 million will be made available to the Malaysian public, while 65.44 million will be placed to selected [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":28357,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[176,180,181,174,177],"class_list":["post-28356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ace-market","tag-bursa-malaysia","tag-healthcare","tag-ipo","tag-umedic"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Medical devices distributor UMediC gets SC nod for ACE Market listing - UMediC Group Berhad<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/umedic.com.my\/Stagging2025\/medical-devices-distributor-umedic-gets-sc-nod-for-ace-market-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Medical devices distributor UMediC gets SC nod for ACE Market listing - UMediC Group Berhad\" \/>\n<meta property=\"og:description\" content=\"KUALA LUMPUR (May 26): UMediC Group Bhd has received the nod from Bursa Securities and the Securities Commission Malaysia (SC) to list on Bursa Malaysia\u2019s ACE Market. 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