Kuwait to grab shares of IHH Healthcare

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IHH Healthcare chairman Tan Sri Dr Abu Bakar Suleiman.

Kuwait Investment Authority will snatch a bunch of shares at IHH Healthcare’s upcoming IPO in Malaysia and Singapore. Partly owned by Abraaj Capital of Dubai, IHH Healthcare is reportedly longing to raise $2 billion in what will be this year’s third biggest IPO worldwide after Facebook and Felda Holdings .

IHH Healthcare Berhad, controlled by Malaysia’s government investment company Kazanah, is planning a dual-listing in Malaysia and Singapore. It has reserved 62 per cent of its IPO for cornerstone investors, which – apart from Kuwait’s sovereign wealth fund – include the Government of Singapore Investment Corporation, Temasek Holdings Pte’s Fullerton Fund Management Co. and Malaysian billionaire T. Ananda Krishnan’s Usaha Tegas Sdn, according to the IPO sales document.

Abu Dhabi Investment Authority, which also were tapped by investment banks for the deal, is no longer in talks with IHH, according to news reports citing unnamed sources.

Malaysian pension funds also have already committed to invest in the offering.

IHH has set set an indicative price range of RM2.67 to RM2.85 per share for institutions. The company is offering up to 1.8 billion new shares in the IPO, while its shareholder Abraaj Capital will sell 435 million shares at an indicative price of RM2.85 per share, the document says.

IHH is 62.1 per cent owned by Khazanah. Japan’s Mitsui Co.owns a 26.6 per cent stake, Dubai-based Abraaj Capital holds 7.1 per cent and Turkish hospital group Acibadem chief Mehmet Ali Aydinlar 4.2 per cent.

 

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Reading Time: 1 minute

IHH Healthcare chairman Tan Sri Dr Abu Bakar Suleiman.

Kuwait Investment Authority will snatch a bunch of shares at IHH Healthcare’s upcoming IPO in Malaysia and Singapore. Partly owned by Abraaj Capital of Dubai, IHH Healthcare is reportedly longing to raise $2 billion in what will be this year’s third biggest IPO worldwide after Facebook and Felda Holdings .

Reading Time: 1 minute

IHH Healthcare chairman Tan Sri Dr Abu Bakar Suleiman.

Kuwait Investment Authority will snatch a bunch of shares at IHH Healthcare’s upcoming IPO in Malaysia and Singapore. Partly owned by Abraaj Capital of Dubai, IHH Healthcare is reportedly longing to raise $2 billion in what will be this year’s third biggest IPO worldwide after Facebook and Felda Holdings .

IHH Healthcare Berhad, controlled by Malaysia’s government investment company Kazanah, is planning a dual-listing in Malaysia and Singapore. It has reserved 62 per cent of its IPO for cornerstone investors, which – apart from Kuwait’s sovereign wealth fund – include the Government of Singapore Investment Corporation, Temasek Holdings Pte’s Fullerton Fund Management Co. and Malaysian billionaire T. Ananda Krishnan’s Usaha Tegas Sdn, according to the IPO sales document.

Abu Dhabi Investment Authority, which also were tapped by investment banks for the deal, is no longer in talks with IHH, according to news reports citing unnamed sources.

Malaysian pension funds also have already committed to invest in the offering.

IHH has set set an indicative price range of RM2.67 to RM2.85 per share for institutions. The company is offering up to 1.8 billion new shares in the IPO, while its shareholder Abraaj Capital will sell 435 million shares at an indicative price of RM2.85 per share, the document says.

IHH is 62.1 per cent owned by Khazanah. Japan’s Mitsui Co.owns a 26.6 per cent stake, Dubai-based Abraaj Capital holds 7.1 per cent and Turkish hospital group Acibadem chief Mehmet Ali Aydinlar 4.2 per cent.

 

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