Arab Today, arab today malaysia\s ihh up 10 percent in stock debut
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

Malaysia\'s IHH up 10 percent in stock debut

Arab Today, arab today

Arab Today, arab today Malaysia\'s IHH up 10 percent in stock debut

Kuala Lumpur - AFP

Shares in Malaysia\'s IHH Healthcare jumped nearly 10 percent on Wednesday as Asia\'s biggest hospital operator made its stock market debut in the world\'s third-largest IPO this year. IHH shares opened at 3.07 ringgit ($0.97) in Kuala Lumpur, up 9.6 percent from the 2.80 ringgit offer price set earlier for a flotation that has raised $2.0 billion. The company is being dual-listed in Malaysia and Singapore. IHH\'s Singapore-listed shares opened at 1.22 Singapore dollars ($0.96), or about nine percent higher. Analysts had forecast the shares to gain on their debut amid expected growth in Asian demand for quality medical services. IHH employs 24,000 people in 30 hospitals and clinics in Malaysia, Singapore, Turkey, China and other Asian markets. The initial public offering is the third-largest this year after social networking giant Facebook and Malaysian plantations operator Felda Global Ventures. Facebook raised $16 billion from its IPO in May but its shares have since plummeted. Felda raised $3 billion last month and its shares soared on their debut. Felda and IHH went ahead with listing plans despite the volatile world economic environment, which has forced the delay of other major public offerings in Asia, including a planned $2.5 billion Formula One listing in Singapore. Analysts said investors expect good long-term returns from IHH as Asia\'s middle class grows and seeks better medical services. \"It\'s in the health sector. Whether times are good or bad, people still fall sick. It\'s a defensive sector,\" said Kaladher Govindan, head of research at stockbroking firm TA Securities in Kuala Lumpur. Like Felda, the IHH listing is part of a plan to divest Malaysian government-linked companies. IHH, which is majority-owned by Malaysian sovereign wealth fund Khazanah Nasional, has reserved 62 percent of its offering for 22 so-called cornerstone investors.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today malaysia\s ihh up 10 percent in stock debut Arab Today, arab today malaysia\s ihh up 10 percent in stock debut

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today malaysia\s ihh up 10 percent in stock debut Arab Today, arab today malaysia\s ihh up 10 percent in stock debut

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday