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Alpha IVF Inks Underwriting Agreement With AmInvestment Bank For ACE Market IPO


KUALA LUMPUR: Fertility care specialist Alpha IVF Group Bhd recently signed an underwriting agreement with AmInvestment Bank Bhd (AmInvestment Bank) in conjunction with the upcoming initial public offering (IPO) on the ACE market of Bursa Malaysia.

From Left to Right Dato’ Dr Colin Lee Soon Soo (拿督 李顺树医生), Group Managing Director of Alpha IVF Group Berhad and Tracy Chen Wee Keng (陈惠琼), Chief Executive Officer of AmInvestment Bank Berhad

Alpha IVF group managing director Datuk Dr Colin Lee Soon Soo said the signing of the underwriting agreement is a significant milestone in its quest to join the league on the ACE market of Bursa Malaysia. “As we embark on this IPO, we are eager to tap the opportunities that afford us in the capital market.

“Part of the IPO proceeds will help us execute our growth strategy of strengthening our operations in Malaysia while also expanding our geographical reach to Indonesia, Cambodia or Laos, and China. “This will lay the foundation for us to become a leading assisted reproductive services (ARS) player in the region.

“Against the backdrop of increasing infertility among young couples and delays in setting up families, we are encouraged that our expansion, both domestically and internationally, is ideally positioned to capitalise on these prospects,” he said in a statement.

Alpha IVF IPO involves 1.45 billion ordinary shares, with 364.5 million new shares and 1.09 billion offer-for-sale shares. This constitutes about 30.0 per cent of the enlarged share capital.

The IPO comprises an institutional offering of 1.23 billion shares, with 607.5 million allocated to Bumiputera investors approved by the Ministry of Investment, Trade, and Industry. Of the total institutional offering, 145.8 million are new shares.

The remaining 218.7 million new shares form the retail offering, which AmInvestment Bank will fully underwrite. Out of the total retail offering, 194.4 million shares will be made available to the Malaysian public via balloting, and 24.3 million shares to eligible directors, eligible employees, and eligible persons who have contributed to the success of Alpha IVF.

AmInvestment Bank chief executive officer Tracy Chen Wee Keng said Alpha IVF has not only emerged as a renowned fertility centre in Malaysia and Singapore but has also taken a lead in shaping the ARS
industry internationally.

“Their commitment to excellence is well-reflected in their outstanding clinical pregnancy success rates and unwavering dedication to innovative research and development in IVF techniques, surpassing industry standards and setting new benchmarks for excellence.

“We believe the company is poised to take advantage of its next stage of expansion as it extends its presence in the domestic and international ARS markets,” she said. Alpha IVF will be listed on the ACE market in the first quarter of 2024. AmInvestment Bank is the principal adviser, sponsor, lead book-runner, and sole underwriter for the company’s IPO exercise.

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