Follow me on Twitter!- @scamboyMaxis Communications Bhd has confirmed into listing! It is said that this will be the biggest listing in Malaysia at over US$2 billion (RM7 billion) since Petronas listed in 1995. Maxis will offer 2.25 billion shares, representing 30 per cent of its existing share capital. Maxis was valued at some RM40 billion before it was taken private in 2007.
Latest statistic as of June 2009: Maxis had 11.42 million subscribers comprising 8.52 million prepaid, 2.73 million post-paid and 171,200 wireless broadband users.
Maxis Bhd to offer 2.25b IPO sharesMaxis Communications Bhd, the country’s dominant mobile operator, plans to list its Malaysian business, Maxis Bhd (Maxis Malaysia), in the year’s most anticipated initial public offering (IPO).
The listing is set to be the country’s biggest since 1995, estimated at US$2 billion (RM7 billion), according to Reuters.
Maxis Malaysia will not be issuing new shares, but will offer 2.25 billion shares, representing 30 per cent of its existing share capital.
Some 92 per cent, or 207.5 billion shares, will be offered to institutional investors, and the rest to retail investors.
In a prospectus exposure on the Securities Commission’s website yesterday, Maxis Malaysia said the listing will give the company the financial flexibility to pursue growth opportunities and enhance its profile, among other things.“The exercise could help its main shareholders (Maxis) to fund the group’s Indian investments,” an analyst from a local research house said.
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Thank you Mr.Prime Minister, hopefully this listing will benefit the local telecom industry.
