KUALA LUMPUR: Sunway Bhd has proposed to list its healthcare arm, Sunway Healthcare Holdings Bhd, on the Main Market of Bursa Malaysia by the first quarter of 2026.
As at July 31, 2025, Sunway Healthcare is a direct 84%-owned joint venture company of SunCity, which in turn is a direct wholly owned subsidiary of Sunway. The remaining 16% equity interest in Sunway Healthcare is held by Greenwood Capital Private Ltd.
In a filing with Bursa Malaysia, Sunway said the proposed initial public offering (IPO) will involve up to 1.97 billion Sunway Healthcare shares, comprising an offer for sale of up to 1.4 billion existing shares by SunCity and Greenwood Capital, and a public issue of 575 million new shares to retail and institutional investors.
As part of the exercise, Sunway Healthcare will carry out a share split of one share into nine shares, which will enlarge its share base without affecting its issued share capital.
After the proposed share split, SunCity will distribute the distribution shares to Sunway by way of dividend-in-specie.
Post-split, the IPO shares will represent up to 17.2% of Sunway Healthcare’s enlarged share capital.
Sunway said the proceeds it will receive via dividends from SunCity will be used to repay bank borrowings, fund working capital, and cover listing-related expenses.
Meanwhile, proceeds from the new share issuance will accrue directly to Sunway Healthcare and be channelled into expanding existing hospitals, building a new hospital, partially redeeming its Islamic medium-term notes, and defraying IPO expenses.
According to Sunway, the proposed listing is expected to unlock shareholder value, allow direct participation in Sunway Healthcare’s growth, improve access to capital, enhance financial flexibility, sharpen strategic focus, and ensure continued participation in Sunway Healthcare’s expansion. – Bernama
