Big Caring Group Bhd. is preparing its Big Caring IPO, worth as much as RM2.3bil. The founder says Malaysia still has plenty of room for growth as demand rises with an ageing population.
What Is the Big Caring IPO Worth and When Does It List?
The offering could raise up to RM2.3bil, with listing on 19 Nov. Bloomberg’s report does not give the offer price, the Bursa board or the subscription dates.
Check the prospectus for those details before you decide anything.
From One Drugstore to 668 Outlets: Who Is Lee Meng Chuan?
Lee Meng Chuan opened Big Pharmacy in his 20s. The group now runs Malaysia’s biggest chain of dispensaries, with 668 outlets.
He started the journey in 2006, after brief stints as a pharmacist at a government hospital and as a medical sales representative. The eldest son of a night-market vendor wanted business to improve his family’s finances.
Big Pharmacy had just 12 stores when Lee bought loss-making RedCap Pharmacy Sdn. in 2018, adding 22 outlets in one shot. His team returned it to profitability within six months.
The RedCap deal also brought private equity firm Creador Sdn. in as a shareholder. Lee calls that period ‘a Masters in Business Administration course for two to three years.’
The turning point came with the purchase of Caring Pharmacy Group from 7-Eleven Malaysia Holdings Bhd. in late 2023. The deal added 256 outlets and gave the group its current name.
Why Did Big Caring’s Net Profit Jump 57% to RM191.6mil?
For the financial year ended June 30, net profit rose 57% to RM191.6mil. Revenue climbed 18% to RM4.02bil.
Profit grew more than three times faster than revenue. Net profit of RM191.6mil on RM4.02bil works out to a net margin of about 4.8%.
Where Will the Big Caring IPO Proceeds Go?
- Debt repayment: most proceeds from the new shares will repay borrowings, largely taken on for the Caring acquisition.
- Distribution centre: RM30mil is earmarked for a new distribution centre.
- Acquisition firepower: lower debt gives the group more flexibility for future acquisitions, Lee said.
How Much Will Creador and the Founders Sell in the IPO?
Creador’s vehicle Iris Pallida Sdn. is selling 863.7 million shares. It could sell more through the over-allotment option, cutting Creador’s stake from 33.7% to as little as 16.3%.
At the indicative price, the sale could be worth about RM1.18bil. It would be the biggest Creador-backed listing to date.
Lee and Lim’s holding vehicle Uptown Paradise Sdn. will keep a 34.4% interest after selling about 374.7 million shares. Both will also keep shares directly.
How Does the Big Caring IPO Compare With Sunway Healthcare?
Sunway Healthcare Holdings Bhd. raised about RM3.3bil earlier this year, in Malaysia’s biggest IPO in nine years, including the over-allotment option. Big Caring’s RM2.3bil target is smaller.
The source does not give a valuation for Big Caring, so no peer multiple comparison is possible from this report.
What Are the Key Risks in the Big Caring IPO?
- Debt load: the IPO is partly aimed at repaying borrowings from the Caring acquisition.
- Acquisition-led growth: the group has bought RedCap, Caring Pharmacy Group, Medispec in 2025 and 96% of Yeap Medical Supplies Pte. in Singapore.
- Creador sell-down: Creador’s stake could fall to 16.3%.
How to Apply for the Big Caring IPO via M+ Global
Apply through the M+ Global app using invitation code UBZQ. Online applications need a direct CDS account in your own name, and each broker means a separate CDS account.
Only one application is allowed per IPO. Multiple applications are an offence under the Capital Markets and Services Act 2007. Retail portions are balloted when the IPO is oversubscribed.
For assistance, WhatsApp +60169059789. Read the IPO Investing with M+ Global guide before you apply.
This article is not investment advice. Do your own research and read the prospectus before making any decision on the Big Caring IPO.
Key Takeaways from the Big Caring IPO
- The Big Caring IPO is worth as much as RM2.3bil, with listing on 19 Nov.
- Net profit rose 57% to RM191.6mil for the financial year ended June 30, with revenue up 18% to RM4.02bil.
- Most proceeds will repay borrowings from the Caring acquisition, with RM30mil for a new distribution centre.
- Creador’s stake could fall from 33.7% to as little as 16.3%.
- Investors should check the offer price, board and subscription dates in the prospectus.
Frequently Asked Questions
How much is the Big Caring IPO worth?
The Big Caring IPO is worth as much as RM2.3bil, with listing on 19 Nov. The source does not give the offer price, so check the prospectus.
What was Big Caring’s net profit for the latest financial year?
Net profit rose 57% to RM191.6mil for the financial year ended June 30. Revenue climbed 18% to RM4.02bil.
How do I apply for the Big Caring IPO?
Apply through the M+ Global app with invitation code UBZQ, using a direct CDS account in your own name. Only one application is allowed per IPO.
Who is selling shares in the Big Caring IPO?
Creador’s vehicle Iris Pallida Sdn. is selling 863.7 million shares. Creador’s stake could fall from 33.7% to as little as 16.3%.
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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