Abraaj Capital, a leading private equity manager investing in global growth markets, announced today the exit of its investment in IHH Healthcare Berhad (IHH) through an initial public offering (IPO) of one of the largest private healthcare providers in the world.
Approximately RM 6.26 billion (US$ 2 billion) was raised in the offering, making it the third largest IPO to date this year after Facebook and Felda Global (the Malaysian palm oil producer).
The offering received strong global institutional and retail demand. Over 400 global institutional accounts participated with the institutional books more than 130x covered whilst the Singapore and Malaysia retail offers were each more than 11x and 5x covered respectively. Cornerstone investors, such as Blackrock, Capital Group, Newton Investment Management Limited, Och-Ziff Capital Management Group, Fullerton Fund Management Company (Temasek), The Government of Singapore Investment Corporation (GIC), Kuwait Investment Authority (KIA), Employees Provident Fund Board, and the International Finance Corporation (IFC) accounted for 62 per cent of the share offering.
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