SINGAPORE - Singapore-based healthcare
company Parkway Pantai, which is partly owned by Malaysia sovereign wealth fund
Khazanah Holdings, has appointed three banks as joint global coordinators for
its planned initial public offering, a person familiar with the transaction
said yesterday.
The group has appointed Bank of
America-Merrill Lynch, CIMB and Deutsche Bank as joint global coordinators for
the offer.
The IPO, scheduled for some time in the first
half of next year, could raise up to US$2 billion (S$2.57 billion) although the
venue for the listing has not been finalised, reports said last month.
Parkway Pantai operates a network of 16
hospitals across Asia, mostly in Singapore and Malaysia.
Malaysia's Integrated Healthcare Holdings,
which is 70 per cent owned by Khazanah, acquired most of its Singapore assets
through a full takeover of Parkway Holdings on the Singapore Exchange last year
in a transaction that valued the healthcare group at US$3.5 billion.
Integrated Healthcare subsequently combined
the Parkway assets with those of its Malaysian assets held under its Pantai
Holdings investment. Dow Jones
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