By Ying Xian Wong
Malaysian hospital operator IHH Healthcare and other investors will withdraw plans to list Agilus Diagnostics in India, citing commercial considerations.
IHH said in a filing to the Malaysian Stock Exchange on Wednesday that it was abandoning its IPO after holding discussions with private equity investors, indirect subsidiary Fortis Healthcare and Agilus. It added that Agilus, a unit of Fortis, may re-apply for an IPO in the future.
IHH did not elaborate on the commercial reasons for the decision. Private equity investors included International Finance Corporation, NYLIM Jacob Ballas India Fund III and Resurgence PE Investments. Fortis acted as promoter.
Agilus filed an IPO prospectus last September. The Gurgaon-based company operates a pathology laboratory network in India.
Write to Ying Xian Wong at [email protected]
(END) Dow Jones Newswires
February 14, 2024, 1:14 a.m. ET (06:14 GMT)
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