Feb 25 (Reuters) – Malaysia’s Sunway Healthcare Holdings expects to issue its initial public offering prospectus on Friday with its listing likely to be completed by next month, its parent Sunway said on Wednesday.
Reuters reported last year that Sunway Healthcare could raise more than 3 billion ringgit ($771.80 million) at its debut on Bursa Malaysia, valuing the private hospital operator at more than 15 billion ringgit, according to two sources with direct knowledge of the matter.
Malaysia’s Employees Provident Fund is said to be among the institutions being sounded out as cornerstone investors for the IPO, which could be the country’s biggest offering since Lotte Chemical Titan Holding’s 3.8 billion ringgit float in 2017.
Earlier this month, Sunway Healthcare signed on six investment banks, including CIMB Investment Bank and Maybank Investment Bank, as underwriters for the IPO.
Conglomerate Sunway on Wednesday reported a 50% jump in net profit to 502.3 million ringgit.
($1 = 3.8870 ringgit)
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Mrigank Dhaniwala)
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