Thursday September 20, 2012
Astro sets price range for RM4.56b IPO
KUALA LUMPUR: Astro Malaysia Holdings Bhd, a pay-TV firm, has set an indicative price range of RM2.70-RM3 per share for institutional investors for its initial public offering (IPO) that could raise up to RM4.56bil, a source with direct knowledge of the deal said.
The IPO, which is expected to be listed by end-September or early October, would be Malaysia’s third-largest this year after share sales by Felda Global Ventures Holdings Bhd in June and IHH Healthcare Bhd in July.
Astro is controlled by Malaysia’s second-richest man Ananda Krishnan, who has investments in telecom and energy assets.
The institutional book for “Astro would open on Wednesday”, said the source, who declined to be identified as details of the deal were not yet public.
Based on the indicative price range, the total 1.52 billion shares in the offer could be worth RM4.1bil-RM4.56bil.