Malaysian aesthetic clinic operator I Bella Perfect doubles shares offered ahead of $19 million US IPO
IPO Overview
I Bella Perfect, which operates three aesthetic medical clinics in Malaysia, raised the proposed deal size for its upcoming IPO on Tuesday.
The Kuala Lumpur, Malaysia-based company now plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. The company had previously filed to offer 1.9 million shares at the same range. At the midpoint, I Bella Perfect will raise 100% more in proceeds than previously anticipated.
I Bella Perfect operates three aesthetic medical clinics in the central and southern regions of Malaysia, providing non-invasive and minimally invasive procedures including facial and skin treatments, body contouring, and laser therapies. The company offers services such as skin tightening, botulinum toxin injections, and filler injections, while also selling a range of five branded skincare products including facial cleansers and creams formulated by original equipment manufacturers. In the year ended March 31, 2025, it served 5,985 customers across its Kuala Lumpur, Selangor, and Johor locations.
I Bella Perfect was founded in 2012 and booked $5 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol IBL. Cathay Securities is the sole bookrunner on the deal.
About the Company
Through I Bella and its two subsidiaries, IBI and IBSA, we are principally involved in the provision of aesthetic medical services in Malaysia, including facial and skin treatments, as well as body and face contouring. We also sell skincare products as part of our business. We operate three aesthetic medical clinics located in the central and southern regions of Malaysia, namely at Kuala Lumpur （“Bella Clinic”）， Selangor （“Bella Clinic Iconic”）， and Johor （“Bella Clinic Inspire”）。 Established in 2013, Bella Clinic serves as our headquarters, with the later establishment of Bella Clinic Iconic in 2023 and Bella Clinic Inspire in 2024, as we grew and expanded our operations. In our aesthetic medical service offerings, we specialize in the performance of non-invasive and minimally invasive procedures. We do not offer invasive procedures such as plastic surgery. The non-invasive procedures focus on enhancing skin and body care without penetration of the skin, including those procedures relating to skin care, slimming, body care, and wellness. The minimally invasive procedures involve treatments that target deeper layers of the skin or that use injections, including skin tightening, botulinum toxin （BOTOX? or “Botox”） injections, filler injections, and laser treatments.
