KUALA LUMPUR, May 21 (Bernama) -- Bursa Malaysia ended at its intraday low on Thursday as investor sentiment remained cautious amid ongoing foreign outflows, although the recent weakness may present bargain-hunting opportunities in fundamentally sound blue-chip counters. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 9.33 points, or 0.54 per cent, to 1,708.36, from yesterday’s close of 1,717.69. The benchmark index, which opened 3.74 points higher at 1,721.43, hit an intraday high of 1,722.50 in early trade before losing momentum for the rest of the day. Market breadth was negative, with losers outpacing gainers 656 to 508, while 565 counters were unchanged, 989 untraded and 32 suspended. Turnover fell to 3.49 billion units worth RM3.70 billion compared with 4.15 billion units worth RM4.29 billion on Wednesday.
Malaysia’s IPO market just received a major catalyst. Sunway Healthcare Holdings Bhd has begun bookbuilding for a RM2.86 billion (US$734 million) IPO, potentially the country’s largest listing since 2017. The company plans to list on March 18 at RM1.45 per share , implying a RM16.7 billion valuation . That would make it the second-largest listed healthcare provider in Malaysia after IHH Healthcare Bhd . Deal Snapshot Shares offered: 1.97 billion IPO price: RM1.45 Market cap: RM16.7 billion Proceeds use: Hospital expansion New hospital construction Redemption of Islamic medium-term notes Cornerstone investors include: JPMorgan Asset Management Eastspring Investments RBC Global Asset Management Parent company: Sunway Bhd Existing listed carve-outs include Sunway Construction Group Bhd and Sunway Real Estate Investment Trust . Money Master Take This IPO matters for three reasons beyond the headline size. 1️⃣ A Healthcare Growth Pl...