Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Malaysian shipyard IPO expected to raise over RM1bn

Malaysian shipyard IPO expected to raise over RM1bn

Kuala Lumpur: MISC's shipyard unit is expected to raise over RM1bn from its planned initial public offering. The IPO of Malaysia Marine and Heavy Engineering (MMHE) on Bursa Malaysia was approved by MISC shareholders on Tuesday. A circular from MMHE said it gave an indicative pricing of RM3.80 per share raising gross proceeds of RM1.04bn to RM1.16bn. MISC said MMHE would receive gross proceeds of RM995.6m if the shares were issued at the IPO price, and that it would be utilised for a yard optimisation programme, capital expenditure in Turkmenistan and listing expenses. The listing is expected to take place by the end of October. [22/09/10]

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.