Sunway Healthcare Holdings (SHH) is seeking to raise at least RM1.6bn (€323m) to fund its expansion by listing on Bursa Malaysia.
SHH is currently 84% owned by Sunway City, a unit of Sunway Berhad, and16% held by Singapore’s GIC, which bought into the business in 2021 for RM750m.
In its draft prospectus, SHH said proceeds from the listing will go into developing a new hospital, which is estimated to cost RM766m, as well as expand and upgrade its existing hospitals. It seeks to double the number of licensed beds to 3400 by 2032.
The capital raised will also be used to pay down borrowings, fund working capital and cover listing expenses.
SHH will list with a portfolio of five existing hospitals and has plans to develop greenfield hospitals in new markets.
To read the latest IPE Real Assets magazine click here.
