Malaysia’s Yakin Medic plans IPO on SGX to support international expansion
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The IPO is targeted for the fourth quarter of 2025 or early 2026.
PHOTO: YAKIN MEDIC
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SINGAPORE - Yakin Medic, a Malaysia provider of active live stem-cell therapies, is planning to list in Singapore as part of its broader strategy to expand into new markets.
The company plans to raise RM100 million (S$30 million) from an initial public offering (IPO) on the Catalist board of the Singapore Exchange, according to reports by The Edge, The Star and other Malaysian publications.
The IPO is targeted for the fourth quarter of 2025 or early 2026. An official pre-IPO signing ceremony was held in Kuala Lumpur on Feb 28.
The company is aiming to produce stem cells for 5,000 patients annually by 2027.
Of the projected amount it plans to raise, RM70 million will be set aside for repurposing and further developing a factory lot in Cyberjaya, a city in Malaysia’s Selangor state, the reports said.
Yakin Medic founder Patrick Tan was reported as saying that the commissioning and developing of a new manufacturing facility in Cyberjaya is estimated to take 1½ years.
The remaining funds from the IPO will be used to help with expansion into overseas markets, and enhance research and development efforts, as well as establish satellite laboratories.
According to Yakin Medic’s website, the company works on treating degenerative diseases, improving health, and focusing on healthy ageing by providing stem-cell therapies.
Stem cells are a group of cells with the capacity to develop into many different cell types in the body during early life and growth. These cells are essential for repairing tissue damage, but ageing uses up the stem-cell reservoir, which leads to ageing and associated diseases.
Yakin Medic intends to explore new ideas in the field of regenerative medicine, an industry working on solutions for diseases such as cardiac problems, diabetes, and kidney or lung problems.
It is also collaborating with Singapore boutique investment-banking firm Evolve Capital Advisory as its sponsor and issue manager to manage the IPO listing process, Mr Tan said.
Established in 2014, Yakin Medic is the sister company of Yakin Invest Corporation, a privately held Malaysia business engaged in the manufacturing of beauty and cosmetic products, property investments, and management and consultancy services.
