The Sunway Medical Center and Sunway Sanctuary, an assisted living facility, in Kuala Lumpur. Courtesy of Sunway Healthcare

Sunway Healthcare Holdings —controlled by Malaysian billionaire Jeffrey Cheah —is gearing up for an IPO to help bankroll its 1.6 billion ringgit ($381 million) expansion plan.

The company plans to offer up to 1.9 billion shares, equivalent to a 17% stake. The maiden share sale will include 1.39 billion existing shares and 575 million new shares, according to the preliminary prospectus filed with the Securities Commission Malaysia. The company hasn’t disclosed the pricing and timeline for the IPO.

“We have strong growth prospects supported by a clear expansion plan,” the company said in the prospectus.

After the IPO, Sunway City will own 69.5% of Sunway

See Full Page