Update: Market Chatter: TPG-Backed Asia OneHealthcare Confidentially Files for MYR10 Billion Malaysia IPO
(Updates to note that TPG declined to comment)Asia OneHealthcare has confidentially filed for an initial public offering on the Bursa Malaysia, looking to raise at least 10 billion ringgit, Bloomberg reported Wednesday, citing people familiar with the matter.The TPG-backed healthcare provider has submitted a draft registration, with the offering potentially the largest one in Malaysia since FGV Holdings' (KLSE:FGV) 10.4 billion ringgit IPO, the report said.Parties to the process are currently in deliberations and there are no guarantees of an IPO happening, the report added.Asia OneHealthcare operates medical facilities across Indonesia and Vietnam, with TPG, an alternative asset manager and Hong Leong Group acquiring it in 2019, the report noted.TPG declined to comment to, while Asia OneHealthcare did not immediately respond to a request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
