KUALA LUMPUR: The operator of Malaysia's largest pharmacy chain, Big Caring Group, is planning an initial public offering, a preliminary prospectus filed with the securities regulator showed.
Big Caring, backed by Kuala Lumpur-based private equity firm Creador, plans to offer a stake of up to 25.5%, or as much as 1.88 billion shares, Thursday's filing showed.
Most of the shares will be sold to institutional and selected investors, with retail investors taking up the rest, it said, without stating the IPO price or timeline.
Listing proceeds will go to repay bank borrowings and set up a new distribution centre, the company added.
Founded in 2006, Big Caring runs 626 retail pharmacy stores nationwide and plans 50 more over the next three to five years, the prospectus showed.
Maybank Investment Bank and RHB Investment Bank have been appointed as joint principal advisers, joint global coordinators, joint bookrunners, joint managing underwriters and joint underwriters for the IPO, the draft showed.
AmInvestment Bank will serve as joint principal advisers, joint global coordinators, joint bookrunners and joint underwriters, while UBS will serve as joint global coordinators and joint bookrunners. - Reuters
