IHH Healthcare up 2.05% on plan to reduce non-Turkish lira-debts

KUALA LUMPUR (May 29): IHH Healthcare Bhd shares rose 2.05% at mid-morning today after the group said it will reduce its non-Turkish lira-debts by up to US$250 million, starting this year.

At 11.30am, IHH Healthcare rose 11 sen to RM5.47 with 1.17 million shares traded.

The group said at its annual general meeting (AGM) that it will be refinancing the debt into lira, and that this will be done in stages, with the aim of reducing its foreign currency denominated debt beyond US$420 million (to date).

In FY18 the group’s foreign currency-denominated debt was US$670 million.

Source: TheEdgeMarkets