Qualitas IPO postponed

PETALING JAYA: The majority shareholders of Qualitas Healthcare Corp Bhd have postponed the initial public offering (IPO) of Qualitas that was slated for listing next month.
"There will be no change to our business operations. Our management team is driven and we will continue to expand Qualitas and seek to create long-term value for our shareholders," its managing director Datuk Dr Noorul Ameen said last Friday.
"We and the group are grateful for the positive interest expressed by investors in the IPO," said Southern Capital managing director Wong Chin Toh.
The company did not disclose the reason for the postponement.
Qualitas is a regional primary healthcare service provider headquartered in Malaysia, with presence in Australia, Singapore and India. It owns and operates 109 primary care centres, 19 dental clinics, 10 medical imaging centres and one dental laboratory.
According to its draft prospectus, Qualitas intends to use almost all of the proceeds from the IPO for strategic investment, acquisitions and general corporate purposes. It was reported that the IPO would raise US$150 million (RM556.5 million).