Malaysia-listed LYC Healthcare Berhad has dropped its plan to list its subsidiary, LYC Medicare, on the Catalist board of the Singapore Exchange S68 (SGX), in view of “prevailing market conditions in the Singapore equity market”.
The withdrawal happened on June 10, less than three months after the preliminary offer document was filed on March 28. The group says that it is considering the possibility of listing its Singapore subsidiary, LYC Medicare, on other exchanges.
It adds that the withdrawal is not expected to have any material impact on the consolidated earnings per share and net asset per share of LYC Healthcare for the FY2025 ending March 31.
LYC Healthcare owns several medical groups in Malaysia, including the largest confinement centre, the fifth largest dental group, and a few aesthetic businesses. The group first mulled a Catalist-board listing back in 2021.
This news takes place amid a possible delisting of life insurer Great Eastern from the local bourse, and ongoing chatter about ways to revive the struggling stock exchange plagued by thin trading volumes and more delistings than listings.
