TPG-backed Asia OneHealthcare confidentially files for potential $2.5bn Malaysia IPO
TPG-backed healthcare provider Asia OneHealthcare has confidentially filed for a potential initial public offering in Malaysia that could raise as much as MYR10bn ($2.5bn), according to a report by Bloomberg.
Healthcare firm Asia OneHealthcare, backed by private equity firm TPG, has confidentially submitted a draft registration statement to Malaysia's Securities Commission for a potential initial public offering that could raise up to MYR10bn ($2.5bn), according to Bloomberg. The report, based on sources familiar with the matter, states that the company submitted the paperwork last week.
If the IPO proceeds at that scale, it would be the largest on the Malaysian market since FGV Holdings raised MYR10.4bn in 2012. The filing is currently preliminary, and discussions are ongoing, leaving the transaction uncertain at this stage. Other healthcare firms and private equity investors are reportedly exploring potential acquisitions of Asia OneHealthcare's Malaysian assets.
This IPO is part of a larger strategic review by TPG, which has been deliberating its options for the healthcare business over the past few months, including a public listing or a full sale. TPG is collaborating with Malayan Banking and UBS as advisors for the process. Asia OneHealthcare, previously named Columbia Asia Healthcare, manages medical facilities in Malaysia, as well as healthcare assets in Indonesia and Vietnam.
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