Malaysia’s Christopher & Lee Ong (CLO) and Mah-Kamariyah & Philip Koh (MKP) are among the firms having advised on Sunway Healthcare Holdings’ IPO on the Bursa Malaysia, raising around MYR2.86 billion (USD722 million), making it the country’s largest listing in nearly a decade.
Singapore’s Baker McKenzie Wong & Leow and global firm Latham & Watkins also advised the Malaysian private healthcare group on its IPO, involving the sale of 1.96 billion shares.
The CLO team was led by partners Justin Chua and Vivian Lim. Chua, who is the firm’s deputy head of capital markets, told Asia Business Law Journal: “Our role focused on advising the underwriters across the full spectrum of Malaysian securities law, regulatory compliance and transaction execution matters associated with the IPO.”
He added that one of the key highlights was the involvement of 13 banks, the highest number in the country since Malaysia-based global agribusiness and food company FGV Holdings’ IPO in 2012.
Sunway sought counsel from MKP, led by managing partner Adrian Koh Yeow York and partner Yee Chew Yan, and Latham & Watkins, spearheaded by partner Sharon Lau.
Baker McKenzie Wong & Leow, headed by US-qualified principal Alexander Stathopoulos, advised the joint global co-ordinators and joint bookrunners for the IPO. The firm also advised on US federal securities laws and English laws.
Maybank Investment Bank and AmInvestment Bank acted as the joint principal advisers, joint global co-ordinators, joint bookrunners, joint managing underwriters and joint underwriters for the IPO.
UBS Securities Malaysia, UBS (Singapore branch), the Hongkong and Shanghai Banking Corporation (Singapore branch), and Jefferies Singapore served as the joint global co-ordinators and joint bookrunners.
Affin Hwang Investment Bank, CIMB Investment Bank and RHB Investment Bank were the joint bookrunners and joint underwriters, while CLSA Securities Malaysia, CLSA, DBS Bank, Mizuho Securities Asia and United Overseas Bank were the joint bookrunners. Kenanga Investment Bank was a joint underwriter.
