KUALA LUMPUR (July 25): Shares of Asia's largest hospital operator IHH Healthcare Bhd rose on its debut on Wednesday on Bursa Malaysia in the world's third-biggest listing this year.
At 9am, IHH Healthcare was up 8.9% or 25 sen to RM3.05 with 49.01 million shares traded.
IHH Holdings provides a full spectrum of healthcare services, from primary healthcare clinics to secondary and tertiary hospitals.
It is one of the world’s largest healthcare providers with an estimated market capitalisation of RM22.6 billion.
At the moment, IHH’s global healthcare network operates over 4,900 licensed beds encompassing 30 hospitals.
BIMB Securities Research in a note Tuesday said it valued IHH at RM3.30 based on 30 times PER over FY13 EPS of 11 sen.
"With potential upside of more than 17%, we recommend IHH a Buy," it said.
The research house said that for FY12 and FY13, it we expects IHH to register net earnings of RM763.3 million and RM883.7 million respectively representing growth of 478.1% and 15.8% respectively.