Malaysia opens US$2B healthcare IPO

IHH Healthcare's listing in Malaysia nails the country as top Asian IPO destination for 2012.

In a release from IHH Healthcare, the details of its proposed dual listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) and the Main Board of Singapore Exchange Securities Trading Limited (“SGX-­‐ST”), the first concurrent Initial Public Offering (“IPO”) that has ever been undertaken in these two markets.

Here's more from IHH:

The concurrent offering represents a major step in creating greater cooperation amongst regional bourses, opening up opportunities for companies with strong regional presence to tap the individual domestic and retail investor base in the respective countries. Malaysia Prime Minister YAB Dato’ Sri Mohd Najib Tun Abdul Razak, launched the IPO in Kuala Lumpur.

Of the 2,234.65 million shares, up to 349.15 million shares are being offered to the public under the Malaysia and Singapore offerings and up to 1,885.51 million shares are being offered under the institutional placement and to cornerstone investors, subject to an over-­‐allotment option by Pulau Memutik Ventures Sdn Bhd (the promoter and also a wholly-­‐owned subsidiary of Khazanah Nasional Berhad) to sell an aggregate of up to 169.43 million additional shares, representing 7.6% of the total IPO shares at the offer price.

The shares to be listed on Bursa Securities and SGX-­‐ST will be fully fungible, that is, IHH shareholders will be able to transfer their shares from Bursa Securities to trade on the SGX-­‐ST and mvice-­‐versa.