Maxis Communications Bhd (MCB) plans to list its Malaysian operations Maxis Bhd (Maxis), under an initial public offering (IPO) which will involve 2.25 billion shares, of which 2.075 billion will be offered to institutions and the remaining 174.79 million shares for the public and its customers.
The IPO is set to be the country's biggest since 1995 and estimated by sources at US$2 billion, as investors rush to capitalise on booming stock markets, according to Reuters.
Currently, MCB is the beneficial owner of 7.5 billion shares, representing 100% of the paid-up of Maxis. It is the promoter of the listing exercise and selling shareholder.
MCB said in its exposure draft posted on the Securities Commission website on Sept 18 that it will hold 5.25 billion shares, representing 70% of the paid-up of Maxis after the IPO.
1 comment:
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