{"id":28420,"date":"2022-07-27T16:23:42","date_gmt":"2022-07-27T08:23:42","guid":{"rendered":"https:\/\/umedic.com.my\/Stagging2025\/?p=28420"},"modified":"2023-04-05T10:06:49","modified_gmt":"2023-04-05T02:06:49","slug":"umedic-opens-18-sen-above-ipo-price-in-debut-on-ace-market","status":"publish","type":"post","link":"https:\/\/umedic.com.my\/Stagging2025\/umedic-opens-18-sen-above-ipo-price-in-debut-on-ace-market\/","title":{"rendered":"UMediC opens 18 sen above IPO price in debut on ace market"},"content":{"rendered":"

PETALING JAYA: UMediC Group Bhd (UMC) made its debut on the ACE Market of Bursa Malaysia Securities today at 50 sen for an 18 sen or 56.25% premium over its initial public offering (IPO) price of 32 sen with an opening volume of 11.14 million shares.<\/p>\n

UMC raised RM31.1 million via the issuance of 97.22 million new shares. About 11.3% of the proceeds have been earmarked for the construction of a new factory building, 21.9% for the setting up of new marketing and distribution offices, 28.9% for the repayment of bank borrowings, 27.8% for working capital whilst the remaining 10.1% will be for listing expenses.<\/p>\n

UMC executive director and CEO Lim Taw Seong said for 20 years, the company has been continuously transforming from dental-related products to medical devices and consumables for its marketing and distribution segment.<\/p>\n

\u201cIn addition, we also managed to venture into the manufacturing segment and will continue to grow our footprint by introducing new products in the market,\u201d said Lim.<\/p>\n

Lim added that the shares were oversubscribed by 46.81 times, indicating strong market sentiment towards the medical device industry, which remains vibrant in light of growing interest in quality healthcare.<\/p>\n

Affin Hwang Investment Bank Bhd is the principal adviser, sponsor, sole placement agent and sole underwriter for this initial public offering exercise.<\/p>\n

\n
www.thesundaily.my<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

PETALING JAYA: UMediC Group Bhd (UMC) made its debut on the ACE Market of Bursa Malaysia Securities today at 50 sen for an 18 sen or 56.25% premium over its initial public offering (IPO) price of 32 sen with an opening volume of 11.14 million shares. UMC raised RM31.1 million via the issuance of 97.22 […]<\/p>\n","protected":false},"author":3,"featured_media":28421,"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":[176,180,174,177],"class_list":["post-28420","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ace-market","tag-bursa-malaysia","tag-ipo","tag-umedic"],"yoast_head":"\nUMediC opens 18 sen above IPO price in debut on ace market - 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\/umedic-opens-18-sen-above-ipo-price-in-debut-on-ace-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UMediC opens 18 sen above IPO price in debut on ace market - UMediC Group Berhad\" \/>\n<meta property=\"og:description\" content=\"PETALING JAYA: UMediC Group Bhd (UMC) made its debut on the ACE Market of Bursa Malaysia Securities today at 50 sen for an 18 sen or 56.25% premium over its initial public offering (IPO) price of 32 sen with an opening volume of 11.14 million shares. 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