Next big-ticket Malaysia IPO on the cards

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Westports Malaysia, the country’s busiest port, plans a listing at the Bursa Malaysia next year.

After Felda Holding and IHH Healthcare, Bursa Malaysia expects another billion-dollar listing probably at the beginning of next year.

The new listing will be Westports Malaysia Sdn Bhd, the owner of the country’s largest port located in Port Klang, local media reported. Westports is a multicargo port which handles containers, bulk, vehicles and other conventional cargoes.

According to the reports, Westports aims to raise as much as $1 billion in the listing, enabling it to expand operations at the port on the back of rapidly rising cargo volumes. A decision on the IPO could be made at the company’s next board meeting in November.

Westports is jointly owned by companies linked to Malaysian tycoon Tan Sri G. Gnanalingam, who is also executive chairman of Westports, and Asia’s richest man, Li Ka Shing, head of the Huchison Whampoa Group in Hong Kong. Hutchison Port Holdings Trust, which operates 52 ports in 26 countries, has a 31.5 per cent stake in Westports.

Other Malaysian companies planning for a listing next year include cable-TV operator Astro and power producer Malakoff Bhd. The companies seek to raise $1 billion and $1.5 billion, respectively.

Malaysia has worked itself up the ranks this year to the third-most busiest IPO location in 2012 behind the US and China and ahead of Hong Kong and Singapore. In 2011, Malaysia ranked only 12th in the number of IPOs.

And compared to this year’s biggest IPO worldwide, Facebook, which was perceived as a failure as the share price dropped by more than a half since the listing on New York’s Nasdaq, the IPOs in Malaysia have been quite satisfiying for investors so far. Shares of Felda and IHH were up 10 per cent and 11 per cent, respectively, after the listing. Malaysia’s benchmark index FTSE Bursa Malaysia KLCI was up 7.68 per cent this year as per August 24, having hit a record high of 1655.39 points on August 22nd.

Felda and IHH Healthcare had an IPO share price of RM4.55 (June 14) and RM2.85 (July 12), respectively. Felda’s shares stood at RM5.03, and IHH’s at 3.12 at close on August 24. In comparison, Facebook went public on May 17 at an IPO price of $38 and left Friday, August 24th’s session at a meager $19.41.

Singapore hopes for more IPOs

Singapore could be another ASEAN hotspot  for new listings for the rest of this year. The CEO of the city state’s stock exchange, Magnus Bocker, said he expects a few “big ticket” IPOs to come into Singapore for the rest of 2012, according to a report in Channel News Asia. Listings are expected to come from local and regional companies, the latter possibly from Indonesia, Bocker said, without giving details.

However, Singapore has seen a number of cancelled  IPOs recently, the latest being motor-sport major Formula One Group which postponed its $2.5 billion offering at the end of June as bankers warned of anaemic demand. In Hong Kong, UK-based Graff Diamonds scrapped its $1 billion IPO earlier this year.

 

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Reading Time: 2 minutes

Westports Malaysia, the country’s busiest port, plans a listing at the Bursa Malaysia next year.

After Felda Holding and IHH Healthcare, Bursa Malaysia expects another billion-dollar listing probably at the beginning of next year.

Reading Time: 2 minutes

Westports Malaysia, the country’s busiest port, plans a listing at the Bursa Malaysia next year.

After Felda Holding and IHH Healthcare, Bursa Malaysia expects another billion-dollar listing probably at the beginning of next year.

The new listing will be Westports Malaysia Sdn Bhd, the owner of the country’s largest port located in Port Klang, local media reported. Westports is a multicargo port which handles containers, bulk, vehicles and other conventional cargoes.

According to the reports, Westports aims to raise as much as $1 billion in the listing, enabling it to expand operations at the port on the back of rapidly rising cargo volumes. A decision on the IPO could be made at the company’s next board meeting in November.

Westports is jointly owned by companies linked to Malaysian tycoon Tan Sri G. Gnanalingam, who is also executive chairman of Westports, and Asia’s richest man, Li Ka Shing, head of the Huchison Whampoa Group in Hong Kong. Hutchison Port Holdings Trust, which operates 52 ports in 26 countries, has a 31.5 per cent stake in Westports.

Other Malaysian companies planning for a listing next year include cable-TV operator Astro and power producer Malakoff Bhd. The companies seek to raise $1 billion and $1.5 billion, respectively.

Malaysia has worked itself up the ranks this year to the third-most busiest IPO location in 2012 behind the US and China and ahead of Hong Kong and Singapore. In 2011, Malaysia ranked only 12th in the number of IPOs.

And compared to this year’s biggest IPO worldwide, Facebook, which was perceived as a failure as the share price dropped by more than a half since the listing on New York’s Nasdaq, the IPOs in Malaysia have been quite satisfiying for investors so far. Shares of Felda and IHH were up 10 per cent and 11 per cent, respectively, after the listing. Malaysia’s benchmark index FTSE Bursa Malaysia KLCI was up 7.68 per cent this year as per August 24, having hit a record high of 1655.39 points on August 22nd.

Felda and IHH Healthcare had an IPO share price of RM4.55 (June 14) and RM2.85 (July 12), respectively. Felda’s shares stood at RM5.03, and IHH’s at 3.12 at close on August 24. In comparison, Facebook went public on May 17 at an IPO price of $38 and left Friday, August 24th’s session at a meager $19.41.

Singapore hopes for more IPOs

Singapore could be another ASEAN hotspot  for new listings for the rest of this year. The CEO of the city state’s stock exchange, Magnus Bocker, said he expects a few “big ticket” IPOs to come into Singapore for the rest of 2012, according to a report in Channel News Asia. Listings are expected to come from local and regional companies, the latter possibly from Indonesia, Bocker said, without giving details.

However, Singapore has seen a number of cancelled  IPOs recently, the latest being motor-sport major Formula One Group which postponed its $2.5 billion offering at the end of June as bankers warned of anaemic demand. In Hong Kong, UK-based Graff Diamonds scrapped its $1 billion IPO earlier this year.

 

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