{
  "id": 17045339,
  "title": "Malaysia's biggest pharmacy chain Big Caring launches IPO valuing firm at $2B",
  "url": "https://urgent.news/2026/10/29/malaysias-biggest-pharmacy-chain-big-caring-launches-ipo-valuing-firm",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T10:02:31.000Z",
  "source": {
    "name": "VnExpress Business",
    "slug": "vnexpress-business",
    "url": "https://e.vnexpress.net/news/business/companies/malaysia-s-biggest-pharmacy-chain-big-caring-launches-ipo-valuing-firm-at-2b-5138335.html"
  },
  "original_language": "en",
  "account": "Malaysia's largest pharmacy chain, Big Caring, has launched an IPO valued at $2 billion, according to a statement released on Thursday. The company plans to offer up to 1.9 billion shares at a maximum price of RM1.08 each. The IPO includes 590.5 million new shares, which are expected to raise approximately RM637.8 million for the company, as well as 1.3 billion existing shares sold by current shareholders. With a valuation of RM8 billion, the new share base comprises 7.4 billion shares. Big Caring's group managing director and CEO, Lee Meng Chuan, stated that the IPO marks a significant milestone in the company's growth journey. The proceeds from the new shares will be used to repay bank borrowings within three months of listing, with 4.7% allocated to building a distribution center within 36 months, and the remaining funds intended for listing costs. Up to 50% of the company's profits will be paid out as dividends to shareholders, depending on factors such as cash levels, debt, and capital spending needs. Nineteen cornerstone investors, including International Finance Corp, JPMorgan Asset Management, abrdn, Principal Asset Management, and First Sentier Investors, have committed to buying a combined 665.5 million shares. The joint principal advisers and global coordinators for the IPO are Maybank Investment Bank, RHB Investment Bank, and AmInvestment Bank. The joint global coordinators and bookrunners are UBS Securities Malaysia and UBS AG's Singapore branch.",
  "summary": "Malaysia's largest pharmacy chain Big Caring Group has launched the prospectus for its initial public offering, which could value the company at about RM8 billion (US$2 billion).",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}