A representative of Sunway didn’t immediately respond to a request seeking comment.
Sunway Healthcare’s fundraising could make it one of the biggest listings in Malaysia in recent years and provide a boost to the country’s IPO market, where proceeds from first-time share sales have fallen 14% to US$1.4 billion this year.
The deal will offer as many as 1.97 billion shares, including the sale of 1.4 billion existing shares. The company said it would use the proceeds for capital expenditure related to expansion of existing hospitals, construction of a new hospital and the redemption of Islamic medium-term notes.
Sunway Healthcare has more than 700 consultant specialists, 3,200 nursing staff and 1,100 other healthcare professionals, a filing showed in September. The firm plans to have a combined capacity of more than 3,000 beds in its network of hospitals by 2030, according to its website.
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The company’s profit jumped 42% to RM257.5 million in 2024, while it reported a revenue of RM1.9 billion.
Malayan Banking Bhd, AmInvestment Bank Bhd, UBS Group AG, HSBC Holdings plc and Jefferies Financial Group Inc are among the banks arranging Sunway Healthcare’s IPO.
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