Business

Saturday October 24, 2009

Maxis may offer 750 million shares to anchor investors


KUALA LUMPUR: Cornerstone investors will be offered about a third of the public offering of shares in Maxis Bhd and will be subjected to a six-month share sale moratorium, a Reuters report said.

That would make up about 750 million of Maxis shares. It has been reported that the Employees Provident Fund (EPF) is one of the cornerstone or anchor investors.

Quoting a source familiar with the matter, Reuters reported that Fidelity, the world’s largest mutual fund, was another anchor investor.

The report added that Maxis’ IPO comes at a time when demand for IPOs has sourced slightly.

South Korea’s POSCO Engineering & Construction this week cancelled its planned US$926mil offering, citing disappointing bookbuilding.

Maxis’ local and international book building is on-going. Its investor road shows will also cover Singapore and Hong Kong. Indicative pricing for its shares ranges from RM4.80 to RM5.50 per share.

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