'UMW O&G IPO value is up to RM2.36b'
KUALA LUMPUR: UMW Oil & Gas Corp Bhd, an offshore and drilling services firm, set a tight initial public offering (IPO ) bookbuilding range thanks to strong demand from cornerstone investors, a source with direct knowledge of the process said yesterday.
This values the IPO at up to RM2.36 billion, the largest in Malaysia so far this year.
The source said IPO bookbuilding range was set at RM2.70-RM2.80 per share, coming a day before the firm officially launches its prospectus to investors today. Reuters