KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
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...