Quek Leng Chan, TPG-backed Asia OneHealthcare targets RM7 billion Malaysia IPO in Q1 2027
The hospital group is eyeing a RM30 billion valuation in what could be the country’s biggest healthcare listing
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[KUALA LUMPUR] Asia OneHealthcare (A1Health) is looking to raise about RM7 billion to RM7.5 billion (around US$1.7 billion to US$1.9 billion) in a Malaysian initial public offering sometime in the first quarter of 2027, a source familiar with the plans told The Business Times.
The company is backed by Malaysian tycoon Quek Leng Chan’s Hong Leong Group and US private equity giant TPG. It is looking to roll out its IPO documentation in November this year, with the offering expected to value the hospital operator at about RM30 billion, BT understands.
According to the source, hospital IPOs remain an attractive exit route for private equity firms as the underlying story is easy for investors to grasp: people are getting richer, populations are ageing and demand for private healthcare continues to grow.
