Astro Malaysia offers IPO shares to indigenous investors
KUALA LUMPUR (REUTERS) - Astro Malaysia Holdings, a pay-TV firm controlled by tycoon Ananda Krishnan, has offered initial public offering (IPO) shares to indigenous "bumiputra" investors with an indicative value of nearly US$700 million (S$876 million), a source with direct knowledge of the matter said, in an IPO the market expects to raise around US$1.5 billion.
The IPO, which is seen listing by end-September, would be Malaysia's third-largest this year after share sales by Felda Global Ventures Holdings Bhd in June and IHH Healthcare Bhd in July.
The offer at RM3.60 a share opened late last week and will close at 4pm (4pm Singapore time) on Wednesday, said the source, who declined to be identified as details of the deal were not yet public.
Based on the indicative price, the 597.69 million shares reserved for bumiputra investors would be worth about RM2.15 billion ringgit (S$857 million).