Westports to launch bookbuilding for $625 mln IPO Thursday-sources
KUALA LUMPUR, Sept 18
KUALA LUMPUR, Sept 18 (Reuters) - Westports Holdings Bhd, operator of Malaysia's busiest port, is expected to launch on Thursday the bookbuilding for its 2.03 billion ringgit ($625 million) initial public offering in Malaysia, according to sources with knowledge of the deal.
The offer to institutional investors is expected to range at an indicative price of 2.30 ringgit to 2.50 ringgit per share, the sources added.
The listing would be Malaysia's second largest this year after the planned 2.4 billion ringgit initial share sale by UMW Oil & Gas Bhd expected some time in the fourth quarter.
Westports, which counts state investor Khazanah Nasional and Hong Kong's Hutchison Port Holdings as shareholders, could not be reached immediately for comment.
($1 = 3.2500 Malaysian ringgit) (Reporting By Yantoultra Ngui; Editing by Chris Gallagher)