KUALA LUMPUR: Westports Holdings Bhd, a port operator partly owned by Hong Kong billionaire Li Ka-shing, will release the listing prospectus for its initial public offering (IPO) tomorrow.
According to an email inviation to the event, Prime Minister Datuk Seri Najib Tun Razak is expected to attend the unveiling of the IPO prospectus launch.
Westports, which is 8.5 per cent held by Khazanah Nasional Bhd, is scheduled to list on the Main Market of Bursa Malaysia by year-end.
Maybank Investment Bank is the principal adviser while Goldman Sachs and Credit Suisse are joint global coordinators.
According to its draft prospectus posted on the Securities Commission website, Westports plans to sell 710.9 million shares to institutions, and 102.30 million shares to individual subcribers, representing 23.8 per cent stake of the company.
Its share sale exercise could raise up to US$800 million (RM2.6 billion) and rank as Malaysia's biggest this year.
AirAsia X Bhd, the long-haul arm of AirAsia Bhd, raised US$308 million in an IPO in July.
Westports said the listing is mainly to enhance its profile to market its services and establish liquidity for its shares.
The company manages Malaysia's main export gateway of Port Klang, which is the world's 12th busiest port.
For fiscal year 2012, Westports posted a net profit of RM359.3 million on the back of RM1.5 billion in revenue last year.