KUALA LUMPUR: Regional primary healthcare provider Qualitas Healthcare Corp Bhd, which is slated for listing on the Main Market of Bursa Malaysia in 2015, plans to utilise a major portion of its proceeds to finance its expansion plans.

According to its draft prospectus, the group will utilise 89.6% of the proceeds from its initial public offering (IPO) for strategic investments, acquisitions and general corporate purposes.

Qualitas said it plans to expand the range of services it offers, improve its coverage in existing markets, and enter new markets through acquisitions.

The remainder 10.4% of the proceeds will be used to cover its listing expenses.

Reuters in a report yesterday said bankers expect the exercise to raise up to US$200 million (RM689.37 million) by the middle of next year.

The group is led by Datuk Noorul Ameen, its founder and managing director. He holds 31.9 million shares, representing a 5.11% equity stake in Qualitas.

The group was previously listed on the Catalist Board of the Singapore Exchange in 2008 via Qualitas Medical Ltd. It was delisted in June 2011, following the acquisition of its entire equity interest by Qualitas Holdings Ltd.

As at Aug 31 this year, the group owned and operated 109 primary care centres, 19 dental clinics, 10 medical imaging centres and one dental laboratory, with a total of 304 doctors.

The group currently has operations in Malaysia, Australia, Singapore and India.

This article first appeared in The Edge Financial Daily, on December 4, 2014.