Practice Makes Perfect
New IPO - IHH Healthcare Berhad
Chin Kok Tan
Publish date: Tue, 03 Jul 2012, 09:13 PM
Chin Kok Tan
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IHH Healthcare to use 90.9% or RM4.6b of proceeds to repay loans
KUALA LUMPUR: 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.
CK>> So, basically gather money from investors and then repay loans??? "Good" move!!!
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.
CK>> Final retail price = Institutional price??? It looks like not so attractive to retail investors like me.
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.
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2 people like this. Showing 6 of 6 comments
Base on the report the valuation of Turkey Hospital acquisition still not being finalised, thus teh book value relatively lower from what has been reported in the prospectus including profit recognition.
Thus, I feel the value will be on the upside should this been finalised after the listing date and boost the return and value.
2012-07-04 10:40
MITI telah diberikan sejumlah 360 juta unit saham untuk diagihkan. MITI telah menerima permohonan sejumlah hampir 2.82 billion unit saham daripada seramai 9,260 pemohon yang terdiri daripada Institusi Amanah Bumiputera seperti Permodalan Nasional Berhad dan Lembaga Tabung Haji di samping pemohon-pemohon daripada syarikat, Koperasi, Yayasan dan juga pemohon individu. Permohonan yang diterima oleh MITI ini adalah merupakan hampir 8 kali ganda terlebih langganan (oversubscribed).
2012-07-04 11:01
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tyran
seems like another ipo to avoid
2012-07-04 00:11