Malakoff aims to raise $1b in IPO

Syed Mokhtar Al Bukhary, majority owner of Malakoff Corp Bhd and one of Malaysia’s richest men.

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.

 

 

 



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[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...

Syed Mokhtar Al Bukhary, majority owner of Malakoff Corp Bhd and one of Malaysia’s richest men.

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.

 

 

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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