Metro Healthcare mulls transfer of listing from LEAP to ACE Market

TheEdge Thu, Apr 13, 2023 10:16pm - 1 year View Original


KUALA LUMPUR (April 13): Healthcare service provider Metro Healthcare Bhd, which is listed on the Leading Entrepreneur Accelerator Platform (LEAP) Market of Bursa Malaysia, said it has received a letter from its founder, executive chairman and major shareholder Dr Tee Swi Peng @ Tay Swi Peng requesting the board of directors to consider a transfer to the ACE Market.

In a bourse filing on Thursday (April 13), Metro said pursuant to the letter from Tee, its board will deliberate on the proposal.

"Further announcement on the above will be made in due course," it added.

Last month, Prime Minister Datuk Seri Anwar Ibrahim announced that the Securities Commission Malaysia, together with Bursa, will introduce the LEAP Market transfer framework for companies to migrate from the LEAP Market to the ACE Market. Currently, LEAP Market-listed companies are required to be delisted before they can migrate to the ACE Market. They will have to go through a similar initial public offering assessment process that non-listed companies do in order to be listed on the ACE Market.

Metro made its debut on Bursa in February 2018 and raised gross proceeds of RM4.62 million via a private placement to sophisticated investors.

Metro shares were untraded on Thursday. It last closed at 59 sen, giving the company a market capitalisation of RM363.86 million.

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