LAHORE – The Abraaj Capital has announced the exit of its investment in IHH through an initial public offering (IPO). Approximately $2 billion was raised in the offering, making it the third largest IPO to date this year.The offering received strong global institutional and retail demand. Over 400 global institutional accounts participated with the institutional books more than 130x covered whilst the Singapore and Malaysia retail offers were each more than 11x and 5x covered respectively. Cornerstone investors, such as Blackrock, Capital Group, Newton Investment Management Limited, Och-Ziff Capital Management Group, Fullerton Fund Management Company (Temasek), the government of Singapore Investment Corporation (GIC), Kuwait Investment Authority (KIA), Employees Provident Fund Board, and the International Finance Corporation (IFC) accounted for 62 per cent of the share offering.Speaking on the occasion, Arif Naqvi, Founder and Group Chief Executive of Abraaj Capital said that today’s announcement marks the successful conclusion of an outstanding partnership and a natural closure of the investment cycle of Abraaj Capital’s $2 billion Infrastructure.
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Abraaj Capital announces exit of investment in IHH
July 26, 2012
on epaper page 16
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