Business

Friday July 27, 2012

M'sian billionaire Ananda Krishnan sells Maxis stake worth RM2.35bil


KUALA LUMPUR: Tycoon T. Ananda Krishnan is selling up to 375 million shares worth around RM2.35bil in the country's largest mobile phone operator Maxis Bhd, according to a source familiar with the deal.

The shares were being priced at a range between RM6.21 and RM6.34 per share, the source said, representing a 3%-5% discount to the closing price of RM6.54 yesterday.

Officials at Maxis were not immediately available for comment. Ananda, Malaysia's second-richest man, has been selling some of his assets.

Ananda also plans to re-list Astro later this year. Picture shows Ananda Krishnan attending day four of the Allen & Company's 30th Annual Media and Technology Conference in Sun Valley Idaho, USA, 13 July 2012. The event brings together the leaders of the worlds of media, technology, sports, industry and politics. - EPA

The deal follows a US$2.8bil sale of his power assets, a proposal to hive off a stake in his satellite operator Measat Global in March and the sale of a minor stake in offshore oilfield services firm Bumi Armada Bhd in April.

Ananda also plans to re-list pay-TV firm Astro All Asia Networks by end-September in a deal that could fetch around US$1.5bil.

Malaysia recently sealed its status as Asia's top initial public offering destination this year following the listing of state-backed hospital operator IHH Healthcare Bhd on Wednes-day, the third biggest flotation so far in 2012 after Facebook Inc and Felda Global Ventures Holdings Bhd.

CIMB and Credit Suisse are the joint bookrunners on the Maxis share sale, the source added. Reuters

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