Westports to launch bookbuilding for IPO
Westports Holdings Bhd, operator of Malaysia’s busiest port, is expected to launch on Thursday the bookbuilding for its RM2.03 billion initial public offering in Malaysia, according to sources with knowledge of the deal.
The offer to institutional investors is expected to range at an indicative price of RM2.30 to RM2.50 per share, the sources added.
The listing would be Malaysia’s second largest this year after the planned RM2.4 billion initial share sale by UMW Oil & Gas Bhd expected some time in the fourth quarter.
Westports, which counts state investor Khazanah Nasional and Hong Kong’s Hutchison Port Holdings as shareholders, could not be reached immediately for comment.-- Reuters