Thursday , February 25 2021

IHH shares jumps 8% on Khazanah RM8.42bil sales plan – Business News

KUALA LUMPUR: IHH Healthcare Bhd the shares went up three months after Khazanah Nasional Bhd announced its sales plan in the group.

The healthcare provider jumped 8.19%, or 43 sen to RM5.68, the highest since August. The best winners of Bursa Malaysia in the past year made about 0.86%.

Khazanah Nasional Bhd confirmed the StarBiz report that it has entered into an agreement with the Japanese company Mitsui & Co Ltd to sell its share in marking the start of a rationalization exercise.

Khazanah has announced that it will allocate 1.4 billion shares or 16% stake in IHH company Mitsui & Co Ltd to RM6 per cash offer of RM8.42bn.

After disposal, the Khazanah share in IHH will be reduced to 26.05% on the basis of the increased share of IHH's capital after the acquisition of 30% of the additional stake owned by IHH by Acibadem Saglik Yatirimlari Holding AS.

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