Sunway Healthcare rises 26 percent in Malaysia market debut
Shares of the hospital operator rose to 1.83 ringgit after raising 2.86 billion ringgit in an IPO. The company plans to fund expansion and regional growth.
Malaysia witnessed its largest initial public offering in nearly a decade on Wednesday as Sunway Healthcare Holdings surged 26% during its market debut. The private hospital operator raised 2.86 billion ringgit ($732 million), marking the country's most significant listing since 2017. Shares opened at 1.70 ringgit, well above the IPO price of 1.45 ringgit, and reached a session high of 1.83 ringgit.
Sunway Healthcare is a subsidiary of the Malaysian conglomerate SUNWAY BHD and operates as a leading provider in the sector with 1,805 licensed beds. The company’s successful entry into the public market comes as the regional IPO environment gains momentum. In 2025, firms listing on Bursa Malaysia raised a total of $2.36 billion, making it the second-largest market for such funds in Southeast Asia after Singapore.
Sunway Healthcare is proud to join the ranks of public listed companies on Bursa, and play our part to further advance Malaysia’s vibrant capital market.
Sunway Chairman Jeffrey Cheah stated that the listing proceeds would be used to fund hospital expansion and future growth, including potential regional opportunities. The company currently manages the Sunway Medical Centre in Kuala Lumpur, which is the largest private hospital facility in the country.
The share offering consisted of 575 million new shares and 1.39 billion shares sold by existing investors, including Sunway City and Greenwood Capital, an indirect unit of the Singaporean state investor GIC. The IPO was supported by 20 cornerstone investors, including the Malaysian unit of AIA Group Limited, the Employees Provident Fund, and JPMorgan Chase & Co. Asset Management. Retail interest was high, with that portion of the offering oversubscribed by 5.6 times.
Financial data for 2025 indicated that Sunway Healthcare’s revenue grew by 19% to 2.2 billion ringgit. However, net profit experienced a 2% decrease to 252.2 million ringgit, primarily due to increased operational costs and expenses.
