Sunway Healthcare, the healthcare division of Malaysian conglomerate Sunway, is proceeding with its initial public offering, aiming for a market capitalization exceeding $4 billion.
The IPO is set to raise approximately $736.3 million, making it the largest in Malaysia in nearly a decade. The company is pricing 1.97 billion shares at 1.45 ringgit each, resulting in a market cap of about 16.7 billion ringgit ($4.30 billion).
Proceeds will fund hospital expansion, bond redemption, and listing expenses. The offering has secured significant interest from 20 cornerstone investors, including major asset management firms.
Sunway Healthcare plans to expand its bed capacity to 3,400 by 2032 from its current 1,805 licensed beds. Trading is expected to commence on Malaysia's main bourse on March 18.
