Qualitas Medical plans to raise $310m in Malaysia IPO

qualitas clinicQualitas Medical Group, a Malaysian health-care provider, plans to seek about 1 billion ringgit ($310 million) from an initial public offering in Kuala Lumpur, according to people familiar with the matter, Bloomberg reported.

CIMB Group Holdings Bhd. and Credit Suisse Group AG are working on the share sale, the people said, asking not to be identified as the process is private. The company may pursue a listing as early as the fourth quarter, one of the people said.

Proceeds will help Qualitas expand in the Asia-Pacific region’s health-care market, which is projected to grow an average 13 per cent annually to reach $752 billion by 2018, according to researcher Frost & Sullivan. Malaysian IPOs have raised $869 million this year, up from $569 million during the same period in 2013.

Qualitas, led by managing director Noorul Ameen, operates more than 250 clinics and medical centers, according to its website. It has locations in Malaysia, India, Singapore, New Zealand and Australia, the website shows.

The company listed on the Singapore exchange’s Catalist board in 2008. A group of investors led by Southern Capital Group Pte took the company private for $36 million in 2011 following low trading volumes.



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Qualitas Medical Group, a Malaysian health-care provider, plans to seek about 1 billion ringgit ($310 million) from an initial public offering in Kuala Lumpur, according to people familiar with the matter, Bloomberg reported. CIMB Group Holdings Bhd. and Credit Suisse Group AG are working on the share sale, the people said, asking not to be identified as the process is private. The company may pursue a listing as early as the fourth quarter, one of the people said. Proceeds will help Qualitas expand in the Asia-Pacific region’s health-care market, which is projected to grow an average 13 per cent annually...

qualitas clinicQualitas Medical Group, a Malaysian health-care provider, plans to seek about 1 billion ringgit ($310 million) from an initial public offering in Kuala Lumpur, according to people familiar with the matter, Bloomberg reported.

CIMB Group Holdings Bhd. and Credit Suisse Group AG are working on the share sale, the people said, asking not to be identified as the process is private. The company may pursue a listing as early as the fourth quarter, one of the people said.

Proceeds will help Qualitas expand in the Asia-Pacific region’s health-care market, which is projected to grow an average 13 per cent annually to reach $752 billion by 2018, according to researcher Frost & Sullivan. Malaysian IPOs have raised $869 million this year, up from $569 million during the same period in 2013.

Qualitas, led by managing director Noorul Ameen, operates more than 250 clinics and medical centers, according to its website. It has locations in Malaysia, India, Singapore, New Zealand and Australia, the website shows.

The company listed on the Singapore exchange’s Catalist board in 2008. A group of investors led by Southern Capital Group Pte took the company private for $36 million in 2011 following low trading volumes.



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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