G Capital emerges as substantial shareholder of LYC Healthcare

TheEdge Fri, Jun 25, 2021 09:02am - 2 years View Original


KUALA LUMPUR (June 25): G Capital Bhd (GCAP), formerly known as Gunung Capital Bhd, has emerged as a substantial shareholder of LYC Healthcare Bhd after acquiring 22 million shares, or a 5.099% stake, in the healthcare service provider.

The block of shares were acquired by GCAP, which is involved in transportation services and mini-hydropower activities, through a private placement exercise on Monday, LYC notified in a filing with Bursa Malaysia yesterday. The issue price of the private placement was fixed at 24.1 sen per share.

In May last year, LYC announced plans to undertake a private placement of up to 30% of its total issued shares to finance any suitable and viable potential businesses or investments in line with its business expansion into the healthcare segment and for working capital.

On Monday, LYC was appointed one of the distributors of the inactivated Covid-19 vaccine developed by Yong Tai Bhd’s strategic partner Shenzhen Kangtai Biological Products Co Ltd in Peninsular Malaysia.

LYC shares closed down half a sen or 1.85% at 26 sen yesterday, bringing it a market capitalisation of RM114.35 million. Its share price had fallen 18.8% year-to-date (YTD). Shares in GCAP, meanwhile, settled half a sen or 0.62% lower at 80 sen, with a market capitalisation of RM254.97 million.

Read also:
LYC Healthcare's unit signs Covid-19 vaccine distribution agreement  

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