KUALA LUMPUR: IHH Healthcare Bhd shares have risen to a three-month high after Khazanah Nasional Bhd announced its divestment plan in the group. The healthcare provider jumped 8.19%, or 43 sen to RM5.68, its highest since August. Khazanah Nasional Bhd has confirmed StarBiz's report that it has entered into an agreement with Japan's Mitsui & Co Ltd to sell down its stake in marking the start of an asset rationalisation exercise. Khazanah said it will divest 1.4 billion shares or a 16% stake in IHH to Mitsui & Co Ltd at RM6 per share for RM8.42bil cash. Following the disposal, Khazanah’s shareholding in IHH will decrease to 26.05% based on the enlarged share capital of IHH after the completion of the acquisition of 30% additional equity interest in Acibadem Saglik Yatirimlari Holding AS by IHH.

Source: thestar November 29, 2018 01:41 UTC