By Danial Azhar and Yantoultra Ngui
KUALA LUMPUR/SINGAPORE, Feb 27 (Reuters) – Sunway Healthcare Holdings launched on Friday its initial public offering that is expected to raise at least 2.86 billion ringgit ($735.98 million) in what would be Malaysia’s largest listing in almost a decade.
The IPO involves 1.97 billion shares at an offer price of 1.45 ringgit per share, according to its prospectus. It comprises 575 million new shares and 1.39 billion shares from existing investors that will be issued to retail and institutional investors.
Altogether, the IPO will offer up to a 17.1% stake in the company. Proceeds will be mainly used to support the expansion of existing hospitals, the prospectus showed.
The offer price would give Sunway Healthcare a market capitalisation of 16.7 billion ringgit, according to the prospectus. Its shares are due to begin trading on March 18.
Sunway Healthcare, a unit of Malaysian conglomerate Sunway, is one of Malaysia’s leading private healthcare providers with total licensed beds of 1,805 as of January 2026. It operates the largest private hospital in Malaysia, which is the Sunway Medical Centre in Kuala Lumpur.
Sunway Group chairman Jeffrey Cheah said the listing would see the combined market capitalisation of all four of the group’s listed units grow to more than 70 billion ringgit.
“I’m fully confident that Sunway Healthcare Group will be among the leading integrated healthcare majors in the region,” Cheah said at the IPO launch on Friday.
The listing is Malaysia’s biggest since Lotte Chemical Titan Holding’s 3.8 billion ringgit listing in 2017.
Reuters reported last year that Sunway Healthcare was looking to debut on the Bursa Malaysia in a more than 3 billion ringgit offering, valuing the private hospital operator at more than 15 billion ringgit.
For 2024 Sunway Healthcare’s net profit rose 42% to 257.5 million ringgit from the prior year, while revenue climbed 27% to 1.85 billion ringgit.
($1 = 3.8860 ringgit)
(Reporting by Roshan Thomas in Bengaluru, Danial Azhar in Kuala Lumpur and Yantoultra Ngui in Singapore; Editing by Subhranshu Sahu and Muralikumar Anantharaman)
