X Close


Published: Thursday June 14, 2012 MYT 10:30:00 AM

World Bank's finance arm agrees cornerstone stake in IHH

KUALA LUMPUR: The board of International Finance Corp (IFC), the financial arm of the World Bank, has approved a proposal to become a cornerstone investor in a planned US$2bil listing of Malaysia's IHH Healthcare, said a source with direct knowledge of the matter.

"It is pending the signing of the deal now," the source told Reuters on Thursday, declining to reveal the size of the investment as the talks were confidential.

IHH and IFC officials were not immediately available for comment.

The entry of IFC, which invests in the private sector in developing nations, could give a further confidence boost to the market debut of IHH -- the healthcare unit of Malaysian sovereign fund Khazanah Nasional Bhd.

This week IHH locked in Blackrock Inc , Capital Group and Och-Ziff Capital Management Group > as cornerstone investors for its dual listing on the Malaysian and Singaporean stock exchanges by end-July, sources told Reuters. - Reuters


  1. Selangor cops make RM30mil black money bust
  2. Lawyer suffocates in attempt to rescue puppies from metre-deep hole
  3. Firefly flight bound for Kota Baru forced to turn back
  4. When the world turns upside down
  5. Malacca treasure no longer a myth
  6. The Obama double in Malaysia
  7. TV series 'Indian Summers' to be shot in Penang
  8. Babysitter swings one-year-old - and kills her instead
  9. Malaysian passport 9th best in the world
  10. Japanese oil tanker robbed, three crew believed kidnapped in dramatic dawn raid