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Westports Malaysia IPO on trackWestports Malaysia IPO on track
The much anticipated Westports Malaysia initial public offering (IPO) which seemed to have gone off the boil a bit since news first broke last year, is on track, local reports quoted executive chairman G Gnanalingam as saying.
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Kalyakan - stock.adobe.com
The port operator has appointed several bankers for its listing and it is now in the application process, he said. Earlier reports had said the IPO is set to take place by October and raise as much as MYR1.54bn ($486m). Credit Suisse Group AG, Goldman Sachs Group Inc and Malayan Banking Bhd were believed to be among the banks involved in the deal.
Westports is the largest of two terminal operators at Malaysia's main import and export gateway Port Klang.
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