IHH Healthcare Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 161.14 million shares. It was oversubscribed by 5.45 times. The IPO attract 65,834 applications or 1.04 billion shares.
The Institutional Price was fixed at RM2.80 per Offer Share. Accordingly, the Final IPO Price for the Retail Offering is fixed at RM2.80 per Offer Share. The difference of RM0.05 per IPO Share will be despatched to successful retail applicants within 10 market days from 16 July 2012.
The IPO allocate 208.51 million shares for public. Of these, 80.57 million shares were allocated for Bumiputera category while 80.57 million shares were allocated for Malaysian Public category.
Below are the allotment summary for public portion.
IHH Healthcare was one of the most wanted IPO in 2012.
While there are many criticism that this IPO have very high PE Ratio, the demand for the IPO was very good. The institutional portion of the initial public offering has been oversubscribed by more than 100 times by 22 cornerstone investors.
On the retails front, the final date to apply for this IPO is today, 11th July 2012. For those who are still undecided, you may want to look at Target Prices / Fair Value of IHH Healthcare & make your decision. The dateline is until 5pm today
Various research houses give early target or fair prices for IHH Healthcare ahead of the listing date of 25th July 2012. All of them generally targeted higher than IPO subscription prices of RM2.85 per share. However, the target price is only marginally higher than IPO price unlike FGVH which listed last month.
The table below is the compilation of target price / fair value from various research houses.
IHH Healthcare Bhd, Asia’s biggest hospital operator is scheduled to be dual listed in Main Market of Bursa Malaysia and Singapore Stock Exchange on 25th July 2012.
The Initial Public Offering (IPO) consists of 2.23 billion shares. 1.39 billion are set aside for cornerstone investors and 498.01 million for local and foreign institutional investors.
A total of 208.51 million shares are allocated to retail investors and people who have contributed to the IHH group, including company staff and directors and business associates. The remaining 140.64 million shares are offered to retail investors in Singapore.
The retail price of the offering is RM2.85 and S$1.18 per share for Malaysia & Singapore offering respectively.
The final price will be equal to the institutional price. There will be a refund to the difference if the final retail price is less than the retail price.