IHH Healthcare’s $2 billion IPO covered on first day

Investors have snapped up the opportunity to buy into IHH Healthcare's initial public offering, covering the whole deal soon after bookbuilding was launched on Tuesday, sources said yesterday. The company is aiming to raise between M$6 billion and M$6.4 billion $1.9 billion to $2 billion.

It will be the third-biggest IPO in the world this year after Facebook and Felda Global Ventures, which raised $16 billion and $3.1 billion respectively through their offerings. Observers have said that support from ample domestic pension money has largely helped offerings in Malaysia so far this year. IHH, which is backed by state-owned Malaysian investment company Khazanah Internasional, will have a...