Westports set for $500m bourse debut

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portklangMalaysia’s largest port operator Westports Malaysia Sdn Bhd is reportedly looking to list on the Bursa Malaysia in October 2013 in an aim to raise up to $500 million from stock investors.

Westports, with Malaysia’s sovereign wealth fund Khazanah Nasional and Hong Kong’s Hutchison Port Holdings as key owners, manages Malaysia’s main export gateway of Port Klang, the world’s 13th busiest port. The funds raised from the initial public offering (IPO) are planned to be used to expand Port Klang, which has reported 20 per cent growth in container handling over the last five years.

Westports’ IPO is another one in a string of bourse debuts in Malaysia expected in 2013. Three IPOs with the potential to become new blue chips at the Bursa Malaysia in 2013 are power producer Malakoff Berhad along with long-haul budget airline AirAsia X, as well as energy and water firm Ranhill Energy and Resources Bhd.

In another move, Vietnam has recently said that it wants to list or at least privatise its state-owned ports.

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Reading Time: 1 minute

Malaysia’s largest port operator Westports Malaysia Sdn Bhd is reportedly looking to list on the Bursa Malaysia in October 2013 in an aim to raise up to $500 million from stock investors.

Reading Time: 1 minute

portklangMalaysia’s largest port operator Westports Malaysia Sdn Bhd is reportedly looking to list on the Bursa Malaysia in October 2013 in an aim to raise up to $500 million from stock investors.

Westports, with Malaysia’s sovereign wealth fund Khazanah Nasional and Hong Kong’s Hutchison Port Holdings as key owners, manages Malaysia’s main export gateway of Port Klang, the world’s 13th busiest port. The funds raised from the initial public offering (IPO) are planned to be used to expand Port Klang, which has reported 20 per cent growth in container handling over the last five years.

Westports’ IPO is another one in a string of bourse debuts in Malaysia expected in 2013. Three IPOs with the potential to become new blue chips at the Bursa Malaysia in 2013 are power producer Malakoff Berhad along with long-haul budget airline AirAsia X, as well as energy and water firm Ranhill Energy and Resources Bhd.

In another move, Vietnam has recently said that it wants to list or at least privatise its state-owned ports.

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