Big Caring Group operates Malaysia’s largest pharmacy chain with about 670 stores nationwide. (BIG Pharmacy/ Caring Pharmacy pics)PETALING JAYA: Malaysia’s largest pharmacy chain Big Caring Group Bhd expects to raise up to RM2.45 billion (US$600 million) when it launches its share sale in the final week of October, said the Wall Street Journal (WSJ).
The group, which is backed by private equity firm Creador, aims to list on the Main Market by mid-November, the financial newspaper said, citing sources.
The deal will value the company at over RM6 billion, the report said. The group operates the Big Pharmacy and Caring Pharmacy chains and has about 670 stores nationwide.
Big Caring previously said the initial public offering (IPO) will involve up to 1.9 billion shares, representing 25.5% of its enlarged share capital. Of this, 590.5 million new shares will be issued while 1.3 billion existing shares will be offered for sale.
