Sunway Healthcare, Malaysia’s top private hospital group, is launching a $4.3 billion IPO on March 18 to expand hospitals and repay debt, backed by major investors and strong 2025 profits.

Sunway Healthcare, Malaysia’s top private healthcare provider, is launching a $736 million IPO valued at $4.3 billion, the country’s largest since 2017, with 1.97 billion shares offered at 1.45 ringgit each. The listing, set for March 18, will fund hospital expansions, new facilities, and debt repayment, backed by 20 cornerstone investors including AIA, JPMorgan, and EPF. The company, which operates five hospitals and plans to grow to 3,400 beds by 2032, reported a 42% profit rise in 2025. The IPO reflects renewed strength in Malaysia’s capital markets, which saw 60 listings in 2025, the highest in two decades.