China’s Sovereign Fund to Acquire $40 Million Stake in iKang
The China Investment Corporation (CIC) is acquiring a 40% stake in iKang Healthcare Group Inc for US$ 40 million through Best Investment Corporation. Beijing-based iKang is a private healthcare provider that focuses on preventative care. The CIC is purchasing the shares at the initial public offering price.
iKang is looking to raise around US$ 150 million in its IPO on the Nasdaq. Bank of America Merrill Lynch and UBS AG are in charge of the share sale.
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