HONG KONG: Malaysian hospital operator Asia OneHealthcare has filed a draft prospectus for an initial public offering of up to 4.38 billion shares and a planned listing on Bursa Malaysia, the Securities Commission Malaysia's website showed on Wednesday.
Reuters reported in April that US-based private equity firm TPG had hired Maybank and UBS to explore options for Asia OneHealthcare, including a domestic listing that could value the company at about RM30bil
The draft prospectus did not disclose the offer price, deal size or a listing date
The offering involves the sale of up to 3.86 billion existing shares by HLT Healthcare Holdings Singapore (HSG), through which TPG controls the hospital operator, and the issue of 521.1 million new shares by Asia OneHealthcare, the draft prospectus showed
The company plans to offer up to 3.77 billion shares to Malaysian and foreign institutional investors. It will offer 615.5 million shares to its managing director, employees, people who contributed to the group and the Malaysian public
HSG would retain a 73.9% stake after the IPO if an over-allotment option is not used. The option allows for the sale of up to 657.1 million additional existing shares, according to the draft prospectus
Asia OneHealthcare will use proceeds from the new shares to expand its hospitals, facility and equipment maintenance, partial debt repayment and IPO expenses, the draft prospectus said
The company operates 23 hospitals, including 22 in Malaysia and one in Vietnam, according to the draft prospectus
Asia OneHealthcare made a net profit of RM344.4mil in the year ended March 2026, compared with RM85.8mil net loss a year earlier. Revenue rose 13.6% on-year to RM3.29bil. - Reuters
