Big Caring Group Bhd is pricing its Big Caring IPO at RM1.08 per share. The Main Market listing will raise RM2.03 billion, making it the second-largest listing in Malaysia this year. The company receives RM637.8 million, while selling shareholders collect RM1.4 billion.
Who Runs Big Caring, and What Does It Sell?
Big Caring operates the BIG Pharmacy and CARiNG Pharmacy chains. It runs 668 outlets under several brands and holds a 24.2% market share as of end-Sept.
The company is led by husband-and-wife team Lee and Lim Sin Yin. Both are trained pharmacists who opened their first retail outlet in Damansara Uptown in 2006.
Other brands include Georgetown Pharmacy, Wellings, Ting Pharmacy and iCare Pharmacy.
What Are the Big Caring IPO Terms at RM1.08 a Share?
- Offer price: RM1.08 per share
- Total raise: RM2.03 billion
- To the company: RM637.8 million
- To selling shareholders: RM1.4 billion
- Market capitalisation at IPO price: RM8 billion
- Applications close: Nov 5
- Tentative listing date: Nov 19
At the IPO price, Big Caring is valued at about 42 times trailing earnings.
“Changing demographics, greater health awareness and demand for accessible healthcare continue to drive growth in our industry,” said managing director Lee Meng Chuan at the prospectus launch.
Where Will the Big Caring IPO Money Go?
Big Caring will allocate 90% of IPO proceeds to cut bank borrowings. Those borrowings stood at RM1.7 billion as of end-August.
Most of that debt funded previous acquisitions:
- RM888.3 million: Caring Pharmacy from 7-Eleven Malaysia Holdings Bhd (KL:SEM), bought in 2023
- RM249.4 million: pharmaceutical distributor Medispec
- RM32.8 million: controlling stake in physiotherapy chain Your Physio
A further RM30 million funds a new distribution centre in Klang. The remaining RM37.1 million covers listing expenses.
How Strong Are Big Caring‘s Earnings Behind the IPO?
Net profit for the financial year ended June 30, 2026 rose over 62% to RM231.8 million. Revenue grew over 18% to RM4 billion.
The prospectus extract does not give peer valuation multiples. Investors may want to check the 42 times trailing earnings figure against listed pharmacy and healthcare names on Bursa Malaysia.
Who Are the Cornerstone Investors and Selling Shareholders in Big Caring?
Cornerstone investors include fund managers Aberdeen Group plc and AHAM Asset Management, plus the International Finance Corporation, the private-sector arm of the World Bank.
Cornerstone investors, typically pension funds and insurers, take up IPO shares before the offer is marketed to retail and institutional investors.
More than a dozen existing shareholders are selling part of their stakes. They include Lee and Lim through their joint vehicle and private equity firm Creador.
What Are the Key Risks in the Big Caring IPO?
- Debt load: RM1.7 billion in borrowings at end-August, with 90% of proceeds directed to repayment.
- Acquisition-linked debt: the RM888.3 million Caring Pharmacy purchase is the largest single borrowing.
- Valuation: about 42 times trailing earnings at an RM8 billion market capitalisation.
- Insider cash-out: RM1.4 billion goes to selling shareholders rather than the company.
How Do You Apply for the Big Caring IPO via M+ Global?
Apply through the M+ Global app using Invitation Code UBZQ. Do not use the M+ Online app, which stopped working on 19 December 2025.
Online IPO applications need a direct CDS account in your own name. Submit only one application per IPO, as multiple applications are an offence under the Capital Markets and Services Act 2007. Retail portions are balloted when an IPO is oversubscribed.
For assistance, WhatsApp +60169059789. Read more in IPO Investing with M+ Global or check Trading Account Types in Malaysia.
Key Takeaways from the Big Caring IPO
- Offer price is RM1.08 per share on the Main Market, targeting RM2.03 billion.
- RM637.8 million goes to the company; RM1.4 billion goes to selling shareholders.
- 90% of proceeds will reduce RM1.7 billion in bank borrowings.
- Net profit rose over 62% to RM231.8 million for FY ended June 30, 2026, at about 42 times trailing earnings.
- Applications close Nov 5 and listing is scheduled for Nov 19.
This article is for information only and is not investment advice. Do your own research before deciding on any IPO.
Frequently Asked Questions
What is the Big Caring IPO price per share?
The Big Caring IPO is priced at RM1.08 per share on Bursa Malaysia’s Main Market. The offer aims to raise RM2.03 billion in total.
When do Big Caring IPO applications close and when does it list?
Applications close on Nov 5. Listing is scheduled for Nov 19.
How much of the Big Caring IPO money will repay debt?
Big Caring will allocate 90% of IPO proceeds to cut bank borrowings. Those borrowings totalled RM1.7 billion as of end-August.
How do I apply for the Big Caring IPO?
Apply through the M+ Global app using Invitation Code UBZQ, with a direct CDS account in your own name. Only one application per IPO is allowed.
Is Big Caring profitable?
Big Caring’s net profit rose over 62% to RM231.8 million in the financial year ended June 30, 2026. Revenue grew over 18% to RM4 billion in the same year.
Source: View Original Article — The content is based on the original publisher. Refer to the original content for accurate info. Contact us for any changes.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making investment decisions.
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