Integrated Healthcare Holdings Sdn Bhd is planning an initial public offering that may raise up to US$2 billion after completing the purchase of a Turkish hospital chain, said two people with knowledge of the matter.
The company, controlled by Malaysia’s sovereign wealth fund Khazanah Nasional Bhd, asked banks to submit proposals for the IPO by tomorrow, said the people, declining to be named as the process is private. The sale will take place in the first half of 2012 in Singapore or Kuala Lumpur, they said.
Integrated Healthcare is in advanced talks to buy a majority stake in Turkey’s Acibadem Saglik Hizmetleri & Ticaret AS for about US$1 billion, one of the people said. Integrated Healthcare, Asia’s largest hospital operator, expects to reach an agreement on the acquisition next month, the person said.
In June last year, Kuala Lumpur-based Integrated Healthcare offered S$3.5 billion (US$2.7 billion) for the rest of Singapore’s Parkway Holdings Ltd, beating a rival bid for Fortis Healthcare Ltd. It also owns Pantai Hospitals Sdn Bhd, the second-biggest hospital operator in Malaysia, and has an investment in Apollo Hospitals Enterprise Ltd.
Khazanah spokesman Mohd Asuki Abas declined to comment on the IPO of Integrated Healthcare. Dow Jones reported on the IPO earlier today, citing unidentified people.
Mitsui & Co, Japan’s second-biggest trading company, said in April it will buy a 30 percent stake in Integrated Healthcare for RM3.3 billion (US$1 billion). The purchase made Mitsui the second-largest shareholder after Khazanah, which owns 70 percent.
Khazanah said the same month that it plans to list Integrated Healthcare as Malaysia’s government pushes state organizations to divest commercial holdings to attract foreign investors and boost stock market liquidity. -- Bloomberg
The company, controlled by Malaysia’s sovereign wealth fund Khazanah Nasional Bhd, asked banks to submit proposals for the IPO by tomorrow, said the people, declining to be named as the process is private. The sale will take place in the first half of 2012 in Singapore or Kuala Lumpur, they said.
Integrated Healthcare is in advanced talks to buy a majority stake in Turkey’s Acibadem Saglik Hizmetleri & Ticaret AS for about US$1 billion, one of the people said. Integrated Healthcare, Asia’s largest hospital operator, expects to reach an agreement on the acquisition next month, the person said.
In June last year, Kuala Lumpur-based Integrated Healthcare offered S$3.5 billion (US$2.7 billion) for the rest of Singapore’s Parkway Holdings Ltd, beating a rival bid for Fortis Healthcare Ltd. It also owns Pantai Hospitals Sdn Bhd, the second-biggest hospital operator in Malaysia, and has an investment in Apollo Hospitals Enterprise Ltd.
Khazanah spokesman Mohd Asuki Abas declined to comment on the IPO of Integrated Healthcare. Dow Jones reported on the IPO earlier today, citing unidentified people.
Mitsui & Co, Japan’s second-biggest trading company, said in April it will buy a 30 percent stake in Integrated Healthcare for RM3.3 billion (US$1 billion). The purchase made Mitsui the second-largest shareholder after Khazanah, which owns 70 percent.
Khazanah said the same month that it plans to list Integrated Healthcare as Malaysia’s government pushes state organizations to divest commercial holdings to attract foreign investors and boost stock market liquidity. -- Bloomberg
