Asean Healthcare plans RM750mil IPO

Chia is executive director and chairman of Asean Healthcare.

PETALING JAYA: Asean Healthcare Group Bhd, a special-purpose acquisition company spearheaded by former Hong Leong Bank Bhd group managing director Datuk Yvonne Chia, is the latest SPAC looking to raise RM750mil from a listing on the Main Market of Bursa Malaysia.

SPACs are companies which have no operations or income-generating business at the point of their initial public offering (IPO), undertaking a share offering for the purpose of raising funds to acquire operating companies or assets, otherwise known as a qualifying acquisition (QA).