IHH Healthcare IPO

IHH Healthcare IPO: The hotly anticipated IPO. Prospectus has just been lodged with MAS. sia's IHH Healthcare said Fri it plans to sell 2.23b shares ahead of a dual listing in Msia and SG next mth, in an up to US$2b IPO that could potentially be the world's third-largest new offering this yr. IHH, majority-owned by Msia's sovereign wealth fund Khazanah didn't disclose the amount it intends to raise. The progress on the IPO deal, following the completion of an IPO by another Msian company palm-oil producer Felda just days ago, is in contrast to the situation elsewhere globally where choppy markets have caused IPOs to be pulled. IHH, which runs hospitals in Singapore, India and Turkey, among others, said on its prospectus that it plans to llist in both Asean cities on July 25. People familiar with the situation had said IHH will sell shares to indigenous investors at Rm 2.85 ($0.9) per share. IHH's proposed IPO, which people close to the situation said earlier could raise up to US$2b, will follow Facebook’s $16b deal and that of state-owned Felda Global, which raised $3.13b this week, in being the world's third-largest so far this yr. IHH's cornerstone investors include a group of insurers and sovereign wealth funds, who have agreed not to sell shares for six months after the company lists. Sovereign wealth fund Kuwait Investment Authority, GIC, Temasek and IFC, are among cornerstone investors, the draft prospectus showed. IHH plans to start taking orders from investors from July 4 and will decide on the final price of the IPO on July 12. Bank of America Merrill Lynch, CIMB Investment Bank Bhd, Credit Suisse, DBS, Deutsche and Goldman Sachs are advising IHH Healthcare on the IPO. Prospectus can be downloaded off here: http://masnet.mas.gov.sg/opera/sdrprosp.nsf/936bad13609791c948256b3e001ed49f/A93391E044D87FBD48257A1E001A1BD0/$File/Preliminary prospectus dated 15 June 2012 (IHH Healthcare Berhad) Part 1.pdf (http://masnet.mas.gov.sg/opera/sdrprosp.nsf/936bad13609791c948256b3e001ed49f/A93391E044D87FBD48257A1E001A1BD0/$File/Preliminary prospectus dated 15 June 2012 %28IHH Healthcare Berhad%29 Part 1.pdf)