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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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. 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...

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.



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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