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Westports bumi IPO shares priced at RM2.50
by Cals Sat 24 Aug 2013, 23:38
Published: Saturday August 24, 2013 MYT 12:00:00 AM
Updated: Saturday August 24, 2013 MYT 7:31:57 AM
Westports bumi IPO shares priced at RM2.50
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Westports’ IPO, expected by October , would be Malaysia’s second larges t this year.
KUALA LUMPUR: Westports Malaysia Sdn Bhd, the operator of the country’s busiest port, has offered shares in its initial public offering (IPO) to bumiputra investors at RM2.50 apiece, sources said.
The IPO, expected by October, would be Malaysia’s second largest this year after the planned RM2.4bil initial share sale by UMW Oil & Gas Bhd in the fourth quarter.
Based on a price of RM2.50, the total 813.19 million shares Westports plans to sell would be worth about RM2.03bil, according to Reuters calculations.
About 392.15 million shares are reserved for bumiputra investors.
The final pricing of the IPO was expected around end-September, one of the sources said.
Westports officials were not immediately available for comment.
The draft prospectus that the company had filed previously to regulators did not give any details on the size of the listing or the timeframe of the IPO process.
Credit Suisse, Goldman Sachs and Maybank Investment are the three joint global coordinators. Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs, HSBCand RHB Investment are the bookrunners. — Reuters
Updated: Saturday August 24, 2013 MYT 7:31:57 AM
Westports bumi IPO shares priced at RM2.50
[You must be registered and logged in to see this image.]
Westports’ IPO, expected by October , would be Malaysia’s second larges t this year.
KUALA LUMPUR: Westports Malaysia Sdn Bhd, the operator of the country’s busiest port, has offered shares in its initial public offering (IPO) to bumiputra investors at RM2.50 apiece, sources said.
The IPO, expected by October, would be Malaysia’s second largest this year after the planned RM2.4bil initial share sale by UMW Oil & Gas Bhd in the fourth quarter.
Based on a price of RM2.50, the total 813.19 million shares Westports plans to sell would be worth about RM2.03bil, according to Reuters calculations.
About 392.15 million shares are reserved for bumiputra investors.
The final pricing of the IPO was expected around end-September, one of the sources said.
Westports officials were not immediately available for comment.
The draft prospectus that the company had filed previously to regulators did not give any details on the size of the listing or the timeframe of the IPO process.
Credit Suisse, Goldman Sachs and Maybank Investment are the three joint global coordinators. Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs, HSBCand RHB Investment are the bookrunners. — Reuters
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