KUALA LUMPUR (Dow Jones)--The shares of Malaysia’s top mobile operator Maxis Bhd. will likely be priced at between 5.00 and 6.00 ringgit in a planned initial public offering later this year, the Edge financial weekly reported quoting an unnamed source as saying Saturday.
“Currently the price range is thereabouts. It could go higher but it shouldn’t go beyond MYR7.00,” the Edge reported quoting a source familiar with the deal.
Maxis, which had posted Friday a draft prospectus on the Web Site of Malaysia’s Securities Commission for public comment, said that it plans to sell 2.25 billion shares. The company said it plans to sell 2.075 billion shares to institutional investors and 174.8 million shares to retail investors. The offer represents 30% of the company's existing share capital.
No offer price has been set, but analysts had earlier estimated that Maxis could raise some $2 billion. That would be the largest share IPO in Malaysia for several years and would underline the growing appetite for initial public offerings in Asia as the region begins to emerge from the global economic crisis.
Dow Jones Newswires
September 19, 2009 00:37 ET (04:37 GMT)
Copyright (c) 2009 Dow Jones & Company, Inc.
No comments:
Post a Comment