Alpha IVF shares open flat in RM116 million IPO, plans Muslim patient expansion

Alpha IVF Group opened flat at 32 sen per share on its first day trading on the ACE Market of Bursa Malaysia
The IPO raised RM116.6 million in proceeds to help Alpha IVF expand into the untapped Muslim patient market
A new specialist center opening attached to a KPJ hospital will target Muslim patients specifically
Alpha IVF plans 2 more centers in Malaysia by 2025-2026 and expansion into Indonesia and other Southeast Asian countries
The company recorded revenue of RM80.1 million and net profit of RM25.3 million for the 6 months ended November 2023