Published: Thursday July 5, 2012 MYT 12:18:00 PM
IHH Healthcare IPO for institutions oversubscribed 60 times
KUALA LUMPUR: IHH Healthcare Bhd's initial public offer (IPO) for institutions was oversubscribed by 60 times, according to Bloomberg. The retail price was RM2.85/S$1.18 per share.
The new wire reported on Thursday that most of the investors subscribed for the share at the higher end of the RM2.67 to RM2.85 range which was offered to institutions.
At RM2.85/S$1.18 per share, IHH is expected to raise gross proceeds of up to RM5.130bil from the issuance of the 1.8 billion new shares.
IHH's IPO will be Malaysia's second largest this year after the US$3.1 billion (RM9.8 billion) listing of Felda Global Ventures Holdings Bhd.
The listing of IHH Healthcare will see Khazanah Nasional Bhd raking in RM4.9bil in the form of unrealised profit via the 62% stake it holds in the international health service provider company.