03 July 2012

IHH Healthcare IPO Update: IHH Healthcare IPO retail price tentatively fixed at RM 2.85 per share for Malaysians and S$ 1.18 per share for Singaporeans

IHH Healthcare Bhd plans to use 90.9% or RM4.663bil of the gross proceeds of RM5.130bil from the initial public offer (IPO) to repay borrowings.

IHH said in a statement on Tuesday the RM4.663bil would be utilised within 12 months upon listing.

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 said that about 5.44% or RM279mil of the gross proceeds will be utilised for working capital and general corporate purposes within 24 months.

The remaining 3.66% or RM188mil of the gross proceeds will be utilised for estimated listing expenses within 12 months.

Under the listing exercise, IHH Healthcare's IPO for the Malaysian public, directors and employees has been tentatively fixed at a retail price of RM2.85 per share. The retail price for the Singaporean public was fixed at S$1.18 per share.

IHH said the final retail was subject to a refund of the difference if the final retail price is below the retail price. It added the final retail price would be equal the institutional price, subject that it would not exceed the final retail price.

IHH's IPO will be Malaysia's second largest this year after the US$3.1bil (RM9.8bil) 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.

Source: www.thestar.com.my


Post a Comment