IHH pares down Apollo Hospitals stake

The Malaysian hospital chain operator seen open to other opportunities in the Indian healthcare sector after it trims stake in local partner for $160 million.

IHH pares down Apollo Hospitals stake

IHH Healthcare sold over half its holding in Apollo Hospitals Enterprise for Rs10.7 billion $160 million on Thursday, paving the way for it to enter into fresh partnerships with other Indian healthcare providers.

IHH, which is majority-owned by Malaysian state investment fund Khazanah Nasional, sold 8.4 million shares in Mumbai-listed Apollo Hospitals at Rs1,267 per share  the lowest end of the marketing range, implying a 4.1% discount to the stock’s Rs1,320.55...

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