Big Caring Group Bhd, Malaysia’s largest pharmacy chain operator, is reportedly seeking to raise up to RM3 billion through a planned initial public offering (IPO), potentially making it one of the country’s largest listings in recent years.
According to sources familiar with the matter, the pharmacy retailer is targeting a listing by October this year. Discussions remain ongoing and details, including the IPO size and timeline, could still change.
Backed by private equity firm Creador Sdn Bhd, Big Caring plans to offer up to 25.5% of its enlarged share capital in the listing. Part of the proceeds raised is expected to be used for debt repayment.
The planned IPO comes amid a strong year for Malaysia’s capital market, with around RM5.6 billion raised through IPOs so far in 2026. Among the largest listings this year was Sunway Healthcare Holdings Bhd, which raised RM3.3 billion in March after exercising its over-allotment option.
Big Caring currently operates several well-known pharmacy brands, including Big Pharmacy and Caring Pharmacy, with a combined network of 626 outlets nationwide, according to its prospectus. The company also plans to expand aggressively by opening around 40 to 50 new outlets annually over the next three to five years.
Creador, which invested in the company in 2015, currently owns about 34% of Big Caring and is expected to sell up to 14.8% of its stake through the IPO exercise.
The company was founded by Lee Meng Chuan and Lim Sin Yin, who remain significant shareholders in the business.
Big Caring did not respond to requests for comment on the proposed listing.
