Kuala Lumpur-based healthcare services provider IHH Healthcare Bhd. has raised $2 billion in an initial public offering and a secondary listing on the Kuala Lumpur Stock Exchange and the Singapore Exchange, respectively. The IPO is the third-largest in the world this year, according to a Bloomberg report.

IHH Healthcare, which is controlled by Malaysia’s state investment company Khazanah Nasional Bhd., provides healthcare services in the Asian region. The company operates hospitals and medical centers in Singapore, Malaysia, China, Hong Kong, and India. IHH also owns a medical business in Turkey.

IHH has engaged six law firms for legal advice in different jurisdictions. Malaysian firm Kadir Andri & Partners advised the issuer on local law while Allen & Gledhill advised on Singapore law. Linklaters counseled IHH on U.S. and English law while its Mumbai-based alliance firm Talwar Thakore & Associates provided Indian law advice. King & Wood Mallesons and Istanbul-based Akol Avukatlik Bürosu acted as the issuer’s Chinese and Turkish counsel, respectively.

Magic Circle firm Freshfields Bruckhaus Deringer also worked on the transaction. The firm represented Malaysian private equity firm Abraaj Capital and Turkey’s Aydinlar family on the sales of their shares in IHH. The Freshfields team was led by global cohead of capital markets Stephen Revell in Singapore and corporate partner Pervez Akhtar in Dubai.

The underwriters, which include CIMB Investment Bank Bhd., Deutsche Bank AG, Merrill Lynch (Singapore) Pte. Ltd., Credit Suisse (Singapore) Ltd., DBS Bank Ltd., Goldman Sachs (Singapore) Pte. Ltd., Oversea-Chinese Banking Corp. Ltd., and United Overseas Bank Ltd., were advised by Albar & Partners on Malaysian law, by WongPartnership on Singaporean law, by Allen & Overy on U.S. and English law, and by Jingtian & Gongcheng on Chinese law.

IHH’s IPO comes just after a $3.3 billion IPO by Malaysia state-owned palm oil company Felda Global Ventures Holdings Bhd. in Kuala Lumpur last month. Felda Global was advised by Cleary Gottlieb Steen & Hamilton and Albar & Partners.

E-mail: lmok@alm.com