Malaysia’s Kadir Andri & Partners and Singapore’s Allen & Gledhill are the lead law firms advising IHH Healthcare Berhad’s upcoming initial public offering, which is expected to raise up to $2 billion.
Kadir Andri is advising on Malaysian law, and Allen & Gledhill is advising on Singapore law for the dual-listing Singapore-Kuala Lumpur IPO. Linklaters, Akol Avukatlik Burosu, King & Wood Mallesons, and Talwar Thakore & Associates are advising on U.S. and English law, Turkish law, PRC law, and Indian law respectively. IHH is expected to start taking orders for the IPO on July 4, with pricing slated for July 12.
Meanwhile, the coordinators, bookrunners and underwriters of the listing are being advised by Albar & Partners (on Malaysian law), WongPartnership (on Singapore law), Allen & Overy (on U.S. and English law), and Jingtian & Gongcheng (on PRC law).
Kuala Lumpur-headquartered IHH provides healthcare services in emerging markets such as Asia, Central and Eastern Europe, the Middle East, and North Africa. Controlled by Malaysian state investor Khazanah Nasional Berhad, it will offer up to 1.8 billion new shares in the IPO, while Dubai-based private equity firm Abraaj Capital will sell 434.7 million shares, according to Reuters.
Reuters added that sovereign wealth fund Kuwait Investment Authority (KIA), money manager BlackRock Inc, and twenty other cornerstone investors will buy around 62 percent of the IPO, the biggest takeup by such investors of any recent major offering in the region.
IHH’s IPO will come a week after that of Malaysia’s Felda Global (slated for June 28), which is looking to raise more than $3 billion.
Ranajit Dam is Southeast Asia Editor at ALB. Follow us on Twitter: @ALB_Magazine.
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