IFC backs Sunway Healthcare Holdings IPO with RM 60 Mn

The proceeds are expected to fund capital expenditure, including expanding existing hospitals, building new facilities, and managing financial obligations.

The World Bank Group’s IFC has committed RM 60 Mn as a cornerstone investor in Sunway Healthcare’s IPO, supporting the company’s expansion plans as its shares jumped sharply on listing, reflecting robust investor interest in private healthcare assets.

The investment comes amid renewed momentum in Malaysia’s capital markets, where healthcare assets are increasingly drawing attention due to rising demand, demographic shifts, and growing emphasis on accessible, high-quality care.

Malaysia-based Sunway Healthcare is part of the diversified Sunway Group, founded by Jeffrey Cheah, with interests spanning education, infrastructure, and real estate. Its listing follows previous public offerings of the group’s construction and real estate investment arms, underscoring a broader strategy to unlock value across its portfolio.

Sunway Healthcare’s IPO, which raised RM 2.86 Bn, marks the country’s largest listing in nearly a decade, signalling improving investor sentiment and economic stability.

Shares of Sunway Healthcare climbed nearly 32% during their debut, rising from an IPO price of RM 1.45 to as high as RM 1.91, valuing the company at approximately RM 22 Bn. The proceeds are expected to fund capital expenditure, including expanding existing hospitals, building new facilities, and managing financial obligations such as Islamic medium-term notes.

Sunway Healthcare currently operates five private hospitals alongside ambulatory care centres and supporting infrastructure, with plans to add up to five more hospitals in the coming years.

Three of these facilities are already under construction, reflecting a forward-looking growth strategy aligned with Malaysia’s evolving healthcare needs.

According to IFC, the investment will directly support increased bed capacity and broader access to healthcare services. “Proceeds from IPO will be used for the expansion of Sunway Healthcare's hospital network in Malaysia. The investment will enable the company to increase bed capacity, create more jobs, and fund investments in initiatives aligning with its expansion strategy in Malaysia,” it said.

Judith Green, Country Manager for Malaysia at the World Bank Group, emphasized that the move aligns with national priorities to improve healthcare access and employment opportunities.

Meanwhile, Sunway Healthcare President Datuk Lau Beng Long stated, “This partnership also reinforces our commitment to advancing the United Nations Sustainable Development Goals, particularly in promoting good health and well-being and strengthening resilient healthcare systems.”

The IFC also noted that its healthcare investments reached over 68 million people globally in fiscal year 2025, contributing to the broader goal of delivering quality health services to 1.5 billion people by 2030.

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