IHH Healthcare gains 10% in IPO

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The Gleaneagles in Singapore is one of the flagship hospitals of IHH Healthcare

Stocks of IHH Healthcare, one of Asia’s largest hospital operators, gained 10 per cent in its debut on July 25 on the Bursa Malaysia and Singapore Stock Exchange.

IHH’s $2 billion initial public offering at RM2.80 per share was the third largest IPO in the world this year after Facebook and Malaysian oil palm plantation operator Felda Global Ventures Holdings. The stock opened at RM3.07 on Bursa Malaysia, a RM0.27 premium, and at 1.22 Singapore dollars at the Singapore Exchange, a 10.7 cent premium.

As reported by Inside Investor, Kuwait Investment Authority has snatched a bunch of shares at the IPO. IHH’s 7.1 per cent part-owner Abraaj Capital of Dubai has sold 435 million shares at an indicative price of RM2.85 per share.

In a statement, Abraaj Capital founder and group CEO Arif Naqvi said this marked “the successful conclusion of a partnership and a natural closure of the investment cycle of Abraaj Capital’s $2 billion infrastructure and growth capital fund and $500 million Abraaj Buyout Fund II.”

IHH Healthcare said that if will use the funds raised for expansion to China, Turkey, Egypt, Libya and the Balkan region.

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Reading Time: 1 minute

The Gleaneagles in Singapore is one of the flagship hospitals of IHH Healthcare

Stocks of IHH Healthcare, one of Asia’s largest hospital operators, gained 10 per cent in its debut on July 25 on the Bursa Malaysia and Singapore Stock Exchange.

Reading Time: 1 minute

The Gleaneagles in Singapore is one of the flagship hospitals of IHH Healthcare

Stocks of IHH Healthcare, one of Asia’s largest hospital operators, gained 10 per cent in its debut on July 25 on the Bursa Malaysia and Singapore Stock Exchange.

IHH’s $2 billion initial public offering at RM2.80 per share was the third largest IPO in the world this year after Facebook and Malaysian oil palm plantation operator Felda Global Ventures Holdings. The stock opened at RM3.07 on Bursa Malaysia, a RM0.27 premium, and at 1.22 Singapore dollars at the Singapore Exchange, a 10.7 cent premium.

As reported by Inside Investor, Kuwait Investment Authority has snatched a bunch of shares at the IPO. IHH’s 7.1 per cent part-owner Abraaj Capital of Dubai has sold 435 million shares at an indicative price of RM2.85 per share.

In a statement, Abraaj Capital founder and group CEO Arif Naqvi said this marked “the successful conclusion of a partnership and a natural closure of the investment cycle of Abraaj Capital’s $2 billion infrastructure and growth capital fund and $500 million Abraaj Buyout Fund II.”

IHH Healthcare said that if will use the funds raised for expansion to China, Turkey, Egypt, Libya and the Balkan region.

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