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Gas Malaysia to raise RM750m from IPO
by hlk Wed 17 Aug 2011, 18:19
Gas Malaysia Sdn, an energy distributor linked to Malaysian billionaire Syed Mokhtar Al- Bukhary, plans to raise about RM750 million (US$252 million) in an initial public offering in Kuala Lumpur, according to a person with knowledge of the matter.
The person declined to be identified as the potential size of the IPO hasn’t been made public. The Selangor, Malaysia-based company plans to sell shares by the end of this year, according to an exchange filing late yesterday by its parent MMC Corp.
Gas Malaysia is the only company licensed to sell natural gas and liquefied petroleum gas in Peninsular Malaysia, the statement said. MMC Managing Director Hasni Harun couldn’t be immediately reached for comment on the size of the IPO at his office in Kuala Lumpur.
The ports and power group may also list energy producer Malakoff Corp and Johor Port Bhd by the end of next year, MMC announced in May. MMC’s shares rose 0.8 per cent to RM2.63 at the midday trading break in Kuala Lumpur today. -- Bernama
The person declined to be identified as the potential size of the IPO hasn’t been made public. The Selangor, Malaysia-based company plans to sell shares by the end of this year, according to an exchange filing late yesterday by its parent MMC Corp.
Gas Malaysia is the only company licensed to sell natural gas and liquefied petroleum gas in Peninsular Malaysia, the statement said. MMC Managing Director Hasni Harun couldn’t be immediately reached for comment on the size of the IPO at his office in Kuala Lumpur.
The ports and power group may also list energy producer Malakoff Corp and Johor Port Bhd by the end of next year, MMC announced in May. MMC’s shares rose 0.8 per cent to RM2.63 at the midday trading break in Kuala Lumpur today. -- Bernama
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