Malaysian Pharmacy Group Big Caring Signs Retail Underwriting Deal Ahead of IPO
Malaysia's largest pharmacy chain operator Big Caring Group said on Wednesday it has signed a retail underwriting agreement with three local banks for its planned initial public offering, Reuters reported on October 14. Maybank Investment Bank, RHB Investment Bank and AmInvestment Bank have committed to underwrite the retail offering of 267.6 million shares.
Big Caring plans to offer up to 1.9 billion shares, or about a 25.5% stake, for the listing, with the majority allocated to institutional investors. Backed by Kuala Lumpur-based private equity firm Creador, the company currently operates 668 stores across Malaysia.
The company said its profit after tax grew to 231.8 million ringgit in fiscal 2026, from 41.2 million ringgit in fiscal 2023. In a prospectus filed in April, Big Caring said proceeds from the listing would be used to repay bank borrowings and establish a new distribution centre.
The planned IPO comes as healthcare assets in Southeast Asia attract growing investor interest, supported by rising incomes and ageing populations. In March, Sunway Healthcare raised 2.86 billion ringgit ($700.81 million) in Malaysia's largest listing in nine years. ($1 =4.0810 ringgit.)
Source: GSM · USA (original Chinese edition)
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