KUALA LUMPUR: Malaysia’s largest nursing school operator, Masterskill Education Group, plans to raise as much as RM779mil from its initial public offering, according to the term sheet obtained by Reuters.
The company, which provides medical nursing training services through Masterskill University College of Health Sciences, set the indicative price range of its offering of up to 205 million new and existing shares at RM3-RM3.80 ringgit each.
Masterskill’s IPO will be Malaysia’s largest this year after Malaysian hard disk drive maker JCY International’s RM1.2bil offer in February.
The Masterskill IPO will see about 138.5 million shares offered to institutions and 25.5 million to retail investors.
Masterskill’s IPO will be Malaysia’s largest this year after hard disk drive maker JCY International’s RM1.2bil offer in February.CIMB and Goldman Sachs are the joint global coordinators and joint bookrunners of the share offer.
Listing for the issue is targetted for May 18.
Masterskill has long-term contracts with the Malaysian government to help train nurses for domestic hospitals.
Activity in Malaysia’s IPO market is expected to pick up this year, with developer Sunway City’s RM1bil planned IPO of its prized property assets in a real estate investment trust (REIT) in June and and national oil company Petronas’ plans to list Malaysian Marine and Heavy Engineering and its petrochemicals business.
The country’s securities regulator approved 10 IPO proposals in the first quarter of 2010, compared with two approvals in the fourth quarter of 2009 and one in the first quarter of 2009. — Reuters
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