Baku:First paragraph Big Caring Group Bhd (BCG) has signed an underwriting agreement with Maybank Investment Bank Bhd, RHB Investment Bank Bhd, and AmInvestment Bank Bhd for its initial public offering (IPO) and subsequent listing on Bursa Malaysia's Main Market.

According to BERNAMA News Agency, the pharmacy chain's IPO will involve up to 1.9 billion shares, which is 25.5 percent of the group's enlarged issued shares. This offering includes a public issue of 590.5 million new shares, representing 8.0 percent, and an offer for sale of 1.3 billion existing shares, or 17.5 percent. Up to 1.6 billion shares, or 21.9 percent, will be allocated for institutional investors, including 922.7 million shares for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI).

Furthermore, up to 692.0 million shares will be offered to Malaysian institutional and selected investors, as well as to foreign institutional and selected investors outside the United States under Regulation S of the United States Securities Act of 1933. The retail offering will consist of 267.6 million shares, representing 3.6 percent of the group's enlarged issued shares. Out of these, 147.6 million new shares will be available to the Malaysian public through balloting, with equal allocation between Bumiputera and non-Bumiputera applicants. The remaining 120 million new shares will be reserved for the group's directors, eligible employees, and individuals who have contributed to its success.

BCG's group managing director and chief executive officer, Lee Meng Chuan, stated that the listing will provide additional resources for the group's next growth phase. Lee emphasized the focus on expanding the retail footprint, strengthening omni-channel capabilities, enhancing distribution infrastructure, and broadening integrated pharmacy offerings. He noted the commitment to disciplined execution and maintaining service standards that have supported BCG's growth.