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IPO Maybank may stabilise Westports shares

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IPO Maybank may stabilise Westports shares Empty IPO Maybank may stabilise Westports shares

Post by Cals Wed 02 Oct 2013, 20:01

IPO Maybank may stabilise Westports shares
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com   
Wednesday, 02 October 2013 18:21
KUALA LUMPUR (Oct 2 ): Westports Holdings Bhd's share price may be regulated by stabilising manager Maybank Investment Bank Bhd.
In a statement to the exchange, Wesports said Maybank may stabilise prices of the stock for a maximum of 30 days from Westports’ listing date or until a time when the manager has bought 81.32 million shares in the company.
Westports which is expected to be listed this October 18 said the "stabilising manager may buy up to 81,319,000 shares to undertake the stabilising action".
The shares represent some 10% of the total number of shares under Westports planned listing, the firm said.
The company said in a separate statement that it has fixed the institutional and retail prices for the initial public offering shares at RM2.50 each.
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