MMC Ports Gains SC Approval for Mega Bursa Malaysia IPO

KUALA LUMPUR, Sept 23 — MMC Port Holdings Bhd (MMC Ports), Malaysia’s largest container port operator, has secured approval from the Securities Commission Malaysia (SC) to list on the Main Market of Bursa Malaysia.

The initial public offering (IPO) will involve up to 4.3 billion shares, representing 30 per cent of its issued share capital of approximately 14.2 billion shares. Of this, 284.8 million shares will be offered to the Malaysian public, while 1.3 million shares are set aside for directors and key senior management. The balance will be allocated to Malaysian and foreign institutional as well as selected investors.

MMC Ports IPO

Chief executive officer Datuk Azman Shah Mohd Yusof said the IPO would strengthen MMC Ports’ corporate profile, broaden visibility in the investment community, and fund potential strategic partnerships. CIMB Investment Bank Bhd is the principal adviser, with HSBC Singapore Branch acting as joint global coordinator and joint bookrunner.

Business News Malaysia