Lac Med (KLSE:LACMED) priced the initial public offering shares at 0.75 ringgit apiece, following the completion of bookbuilding under the institutional offering, according to a Wednesday Malaysian bourse filing.

According to earlier filings, the IPO comprises a public issue of 74.2 million shares at 0.22 ringgit each, as well as an offer-for-sale of 30 million shares.

Proceeds will be used for expansion, to boost working capital, and to pay off expenses, the healthcare technology provider said.

The retail offering closed at 5:00 p.m. on Nov. 25.