The listing is scheduled for April 25 and is offering between $325m to $370m worth of shares depending on whether the overallotment option is exercised.
The reports said about $300m of the share sale is believed to be already covered by key investors and funds. Cornerstone investors have been allocated some $90m and anchor investors between $80m to $100m, mainly Malaysian funds.
Maybulk is expected to subscribe for around $50m of the IPO to prevent its stake from being diluted.
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