Malaysian pharmacy group Big Caring signs retail underwriting deal ahead of IPO

Oct 14 (Reuters) — 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. 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 25.5% stake for the listing, with the majority allocated to institutional investors 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 Backed by Kuala Lumpur-based private equity firm Creador, Big Caring currently operates 668 stores across Malaysia, it said. The company's profit after tax grew to 231.8 million ringgit in fiscal 2026 from 41.2 million ringgit in fiscal 2023, it added. In a prospectus filed in April, the company said proceeds from the listing would be used to repay bank borrowings and establish a new distribution centre. ($1 = 4.0810 ringgit) (Reporting by