Astro Malaysia sets IPO price at top end-source

KUALA LUMPUR Wed Oct 3, 2012 7:17pm EDT

KUALA LUMPUR Oct 4 (Reuters) - Astro Malaysia Holdings Bhd, the country's largest pay-TV firm, has priced its initial public offering at the top of its indicative range, one source with knowledge of the deal said, to raise about $1.5 billion in Malaysia's third-largest IPO this year.

Astro, controlled by Malaysia's second-richest man Ananda Krishnan, set the IPO price at 3 ringgit per share, the source said on early Thursday, after gauging institutional investor demand at 2.70 to 3.00 ringgit.

The IPO is being handled by CIMB Group Holdings Bhd , Malayan Banking Bhd and RHB Capital Bhd . Several foreign banks are also advisers, including UBS AG, Credit Suisse Group AG, Goldman Sachs Group Inc and JPMorgan Chase & Co.

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