Big Caring Group, Malaysia’s premier pharmacy retail chain, is gearing up for an initial public offering (IPO) as part of its strategic plan to strengthen its standing in the country’s burgeoning retail health sector.
Based in Kuala Lumpur and backed by private equity firm Creador, Big Caring Group aims to sell up to 25.5 per cent of its shares, amounting to approximately 1.88 billion ordinary shares. This information was found in a preliminary prospectus lodged with the Securities Commission Malaysia. Currently, the company has about 1.29 billion shares in existence; the remainder of the IPO will comprise new shares intended to fund future expansion and decrease existing debt.
With a strong network of 626 stores across the nation, Big Caring Group continues to display its ambitious growth strategy. The company has plans to open an additional 50 stores within the next three to five years.
The structure of the IPO is designed to cater to institutional and selected investors; around 1.61 billion shares will be made available for them. Meanwhile, retail investors, which include company employees, contributors, and the general public, will have the opportunity to subscribe to approximately 268 million shares.
Maybank Investment Bank and RHB Investment Bank will spearhead the IPO as joint principal advisors, global coordinators, bookrunners, managing underwriters, and underwriters. Additionally, AmInvestment Bank and UBS will play essential roles in coordinating and underwriting the tranche for institutional investors.
The IPO price and timeline have not yet been disclosed. The listing is pending approval from Bursa Malaysia and the Securities Commission.
What is Big Caring Group planning?
Big Caring Group, the largest pharmacy retail chain in Malaysia, is preparing for an initial public offering (IPO) to strengthen its position in the country’s growing retail health sector.
How many shares is Big Caring Group considering selling in its IPO?
The company plans to sell up to 25.5 per cent of its shares, or around 1.88 billion ordinary shares, according to their preliminary prospectus.
What is the company’s expansion plan?
Big Caring Group intends to open 50 more stores across the nation within the next three to five years. Currently, they operate 626 stores nationwide.
