KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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...