KUALA LUMPUR, Sept 23 — MMC Port Holdings Bhd (MMC Ports) has secured the Securities Commission Malaysia’s (SC) approval for its upcoming listing on the Main Market of Bursa Malaysia Securities Bhd.
Under its initial public offering (IPO), the company will offer up to 4.3 billion shares for sale, representing up to 30 per cent of its issued share capital of about 14.2 billion.
Of this 4.3 billion shares, 284.8 million shares have been earmarked for the Malaysian public, while another 1.3 million shares will be made available to the directors of MMC Ports and key senior management of the group.
“The remaining balance of up to four billion shares will be allocated to Malaysian and foreign institutional as well as selected investors,” the largest container port operator in Malaysia said in a statement today.
Chief executive officer Datuk Azman Shah Mohd Yusof said the company is looking forward to embarking on the next phase of its corporate journey as part of its natural progression towards elevating its corporate profile, and broadening its visibility amongst the investment community by tapping into the capital markets.
“We are also on the look out for inorganic expansion through strategic endeavours and partnerships to capitalise on the rise in global trade, as well as opportunities from the relocation of manufacturing activities and regional distribution hubs and global supply chain reorganisation,” he said.
CIMB Investment Bank Bhd is the principal adviser, joint global coordinator, joint bookrunner, sole managing underwriter and joint underwriter for the IPO exercise, while the Hongkong and Shanghai Banking Corporation Ltd (HSBC) Singapore Branch is also the joint global coordinator and joint bookrunner.
Other joint bookrunners are AmInvestment Bank Bhd, Bank Muamalat Malaysia Bhd, CGS International Securities Malaysia Sdn Bhd, CLSA Ltd and CLSA Securities Malaysia Sdn Bhd, Jefferies Singapore Ltd, Kenanga Investment Bank Bhd, Maybank Investment Bank Bhd and RHB Investment Bank Bhd.
