[Dow Jones] Soon-to-be-listed Maxis expected to price its IPO shares in MYR4.80-MYR5.50 range, person familiar with deal tells Dow Jones Newswires. Maxis looking to sell some 2.25 billion shares, or 30% stake IPO, would raise between MYR10.8 billion to MYR12.38 billion for 75%-stakeholder Ananda Krishnan and 25%-stakeholder Saudi Telekom (7010.SA). Price range values Maxis shares at 14.5X to 16.5X while dividend yield expected to be more than 8.0%. "The final IPO price for the retail portion will be MYR5.20 or 95% of the institutional price, whichever is lower," the person says. Telco analysts tracking the stock say indicative price is "fair" given Maxis's dominant position in the domestic market. Share subscription will begin Oct. 28, with roadshow beginning Friday; book closes on November 9, the person added.
Dow Jones Newswires
October 21, 2009 21:08 ET (01:08 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
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