KUALA LUMPUR: Cengild Medical Bhd made its debut on the ACE Market of Bursa Malaysia today at 49.5 sen a share, a 50% premium to its issue price of 33 sen.

       "Cengild has travelled through a remarkable journey since October 2017 and this IPO has provided us with the platform to realize our ambitions and accelerate our expansion plans.

       "As the only independent full-fledged medical centre in Malaysia specialising in gastrointestinal and liver diseases, and obesity, our aim is not only to provide the best treatment for our patients, but also to build a reputable centre of excellence in the region," said Cengild Medical executive chairman Datuk Tan Huck Joo in a statement.

       The healthcare provider's initial public offering was oversubscribed 44.53 times

       About RM72.2mil was raised from the IPO wherein RM13mil will be utilised for the expansion of its existing medical centre at Nexus @ Bangsar South, RM37.1mil will go towards geographical expansion by establishing two new full-fledged medical centres and RM17.4mil will be set aside for working capital, while the remainder will go towards defraying listing expenses.

       Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner for Cengild Medical’s IPO.