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. Malaysian passport 9th best in the world
  2. Japanese oil tanker robbed, three crew believed kidnapped in dramatic dawn raid
  3. KL set to be in 'security lockdown'
  4. Wanted: A rational water plan
  5. 'Godfather' believed to have killed 13-year-old boy
  6. Every kind of success in life depends on our virtues as a person
  7. Brave boy comforts family
  8. College staff turn to loan sharks after salaries unpaid for four months
  9. David Moyes parts ways with Manchester United, Ryan Giggs temporarily takes charge
  10. Selangor MB Khalid: Can't stop water rationing yet, but will review next week