KUALA LUMPUR, March 27 Malaysia's Icon Offshore
Bhd, whose ships offer support services to oil platforms, aims
to list on the Kuala Lumpur Stock Exchange by selling shares
bankers estimate to be worth $150 million.
The offshore support vessel company plans to add to its
fleet of 32 ships and repay debt using funds raised through the
initial public offering (IPO), which bankers expect to take
place in the second quarter of this year.
Icon plans sell up to 510.6 million shares - 324.7 million
to domestic and foreign institutional investors, 135.3 million
to indigenous "Bumiputra" institutional investors, and 50.6
million to individual investors, showed a draft prospectus filed
late on Wednesday.
Bumiputra are ethnic Malays and other indigenous people in
Malaysia who receive preferential treatment in business, housing
and education under a decades-old government policy.
BNP Paribas, Credit Suisse and Maybank are joint global
co-ordinators for Icon's IPO.
(Reporting by Yantoultra Ngui; Editing by Christopher Cushing)