Malaysia’s next mega-IPO to raise $1b

UMW holdingsIn what is expected to be Malaysia’s next large bourse debut, UMW Holdings Bhd, one of the largest Malaysian industrial conglomerates, is planning to sell 39 per cent of its oil and gas unit in an initial public offering (IPO), a deal that some bankers say could raise up to $1 billion.

The listing comes amid a pick-up in IPOs and secondary share offerings in Asia throughout 2012 and 2013 and could be one of the largest Malaysian offerings this year after independent power producer Malakoff Berhad recently announced it was delaying its debut until 2014.

UMW Holdings Berhad is one of the largest companies and also one of the leading industrial enterprises in Malaysia, active across Asia-Pacific. The holding group ranks among the foremost corporations listed on the Bursa Malaysia. Its net assets exceed RM2.3 billion and its workforce numbers more than 11,000 employees. Industry sectors covered are, besides oil and gas, automotive, manufacturing, engineering and industry equipment. It counts Malaysia’s largest fund management firm Permodalan Nasional and US investment management company Vanguard Group as shareholders.

Other IPOs to be expected in Malaysia this year are long-haul discount carrier AirAsia X which is looking to raise $300 million, with pricing to take place in June. Energy and water firm Ranhill Energy and Resources is also likely to raise up to $337 million in June.

Stated-backed UMW said it is offering 648.6 million shares or 30 per cent of the offshore, drilling and oil-field services provider to institutional investors and the remaining 194.6 million shares to retail investors. Proceeds will be used for repaying bank debt, capital expenditure and working capital, UMW said.



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In what is expected to be Malaysia's next large bourse debut, UMW Holdings Bhd, one of the largest Malaysian industrial conglomerates, is planning to sell 39 per cent of its oil and gas unit in an initial public offering (IPO), a deal that some bankers say could raise up to $1 billion. The listing comes amid a pick-up in IPOs and secondary share offerings in Asia throughout 2012 and 2013 and could be one of the largest Malaysian offerings this year after independent power producer Malakoff Berhad recently announced it was delaying its debut until 2014. UMW Holdings Berhad is...

UMW holdingsIn what is expected to be Malaysia’s next large bourse debut, UMW Holdings Bhd, one of the largest Malaysian industrial conglomerates, is planning to sell 39 per cent of its oil and gas unit in an initial public offering (IPO), a deal that some bankers say could raise up to $1 billion.

The listing comes amid a pick-up in IPOs and secondary share offerings in Asia throughout 2012 and 2013 and could be one of the largest Malaysian offerings this year after independent power producer Malakoff Berhad recently announced it was delaying its debut until 2014.

UMW Holdings Berhad is one of the largest companies and also one of the leading industrial enterprises in Malaysia, active across Asia-Pacific. The holding group ranks among the foremost corporations listed on the Bursa Malaysia. Its net assets exceed RM2.3 billion and its workforce numbers more than 11,000 employees. Industry sectors covered are, besides oil and gas, automotive, manufacturing, engineering and industry equipment. It counts Malaysia’s largest fund management firm Permodalan Nasional and US investment management company Vanguard Group as shareholders.

Other IPOs to be expected in Malaysia this year are long-haul discount carrier AirAsia X which is looking to raise $300 million, with pricing to take place in June. Energy and water firm Ranhill Energy and Resources is also likely to raise up to $337 million in June.

Stated-backed UMW said it is offering 648.6 million shares or 30 per cent of the offshore, drilling and oil-field services provider to institutional investors and the remaining 194.6 million shares to retail investors. Proceeds will be used for repaying bank debt, capital expenditure and working capital, UMW 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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