Malakoff aims to raise $1b in IPO
Malaysian power company Malakoff Corp Bhd, the next candidate for a large initial public offering at the Bursa Malaysia, has said it wanted to raise $1 billion from the capital market when it goes public in the second quarter of 2013.
Malakoff’s IPO will continue the IPO spree seen in Malaysia in 2012 with Felda, IHH Healthcare and Astro having raised a combined $6.8 billion, making Malaysia one of the world’s most active IPO venues in that year.
For the Malakoff IPO, the company has appointed Maybank Investment Bank and CIMB Investment Bank as lead managers for its planned offering and Credit Suisse and J.P. Morgan as global co-coordinators, Reuters reported.
Malakoff is 51 per cent owned by Malaysian business tycoon Syed Mokhtar Al Bukhary, one of the country’s richest men, via his MMC Corp Bhd. The company generates and sells power as the largest independent power producer to the state’s largest power supplier Tenaga Nasional and has numerous subsidiaries in the power, maintenance, power distribution, project finance and construction sectors.
It is also operating a number of subsidiaries and joint ventures in the Middle East and Northern Africa, namely in Saudi Arabia, Algeria, Oman and Jordan. Money from the IPO will be mainly used for further overseas expansion, Malakoff said.
[caption id="attachment_5771" align="alignleft" width="268"] Syed Mokhtar Al Bukhary, majority owner of Malakoff Corp Bhd and one of Malaysia's richest men.[/caption] Malaysian power company Malakoff Corp Bhd, the next candidate for a large initial public offering at the Bursa Malaysia, has said it wanted to raise $1 billion from the capital market when it goes public in the second quarter of 2013. Malakoff's IPO will continue the IPO spree seen in Malaysia in 2012 with Felda, IHH Healthcare and Astro having raised a combined $6.8 billion, making Malaysia one of the world's most active IPO venues in that year. For the...
Malaysian power company Malakoff Corp Bhd, the next candidate for a large initial public offering at the Bursa Malaysia, has said it wanted to raise $1 billion from the capital market when it goes public in the second quarter of 2013.
Malakoff’s IPO will continue the IPO spree seen in Malaysia in 2012 with Felda, IHH Healthcare and Astro having raised a combined $6.8 billion, making Malaysia one of the world’s most active IPO venues in that year.
For the Malakoff IPO, the company has appointed Maybank Investment Bank and CIMB Investment Bank as lead managers for its planned offering and Credit Suisse and J.P. Morgan as global co-coordinators, Reuters reported.
Malakoff is 51 per cent owned by Malaysian business tycoon Syed Mokhtar Al Bukhary, one of the country’s richest men, via his MMC Corp Bhd. The company generates and sells power as the largest independent power producer to the state’s largest power supplier Tenaga Nasional and has numerous subsidiaries in the power, maintenance, power distribution, project finance and construction sectors.
It is also operating a number of subsidiaries and joint ventures in the Middle East and Northern Africa, namely in Saudi Arabia, Algeria, Oman and Jordan. Money from the IPO will be mainly used for further overseas expansion, Malakoff said.
