Big Caring Group Bhd., the largest pharmacy chain in Malaysia, is looking to raise as much as 3 billion ringgit ($750 million) in its initial public offering, potentially one of the country’s biggest listings in the past decade, according to people familiar with the matter.

Billionaire Vincent Tan is considering selling his 30% stake in Prudential Assurance Malaysia Bhd., people with knowledge of the matter said, after already offloading a 19% holding earlier this year.