(Updates with new source information on 1MDB IPO size)
KUALA LUMPUR Jan 15 IOI Properties Group
kicked off an potential record year for Malaysia IPOs
with a stellar debut, jumping by more than a fifth after raising
some $580 million in its initial public offering.
Malaysia's initial public offering market could more than
double this year to $7.1 billion, led by an up to $2 billion
sale of state investor 1Malaysia Development Bhd's energy
assets, according to information from bankers compiled by
Following is a list of other Malaysian IPOs that bankers
have flagged as likely to occur in 2014 with their estimates of
deal sizes. The total figure does not include two possible deals
where the size has not been flagged - a property trust listing
from Permodalan Nasional and an IPO for Boustead Plantations.
* Seven Convenience, operator of all 7-11 stores in
Malaysia. The company is controlled by Malaysian tycoon Vincent
Tan, the 10th richest man in the country, according to Forbes. A
$250 million IPO expected in March.
* Power producer Malakoff, a unit of tycoon Syed Mokhtar
AlBukhary's conglomerate MMC Corp. Syed Mokhtar is the
country's eight richest man, according to Forbes. A $1 billion
IPO seen in the first half of 2014.
* State investor 1Malaysia Development Bhd (1MDB) has
invited investment banks to pitch for advisory roles in an
initial public offering (IPO) ranging between $1 billion to $2
billion involving its power assets, three sources told Reuters
* Boustead Plantations, the palm oil arm of Malaysia's
conglomerate Boustead Holdings, which is controlled by
the country's army fund, Lembaga Tabung Angkatan Tentera. The
IPO is expected in the second quarter of 2014 but its size has
not been determined yet.
* Icon Offshore, an oil and gas offshore service firm owned
by the Malaysian government-linked private equity fund, Ekuiti
Nasional. A $150 million IPO expected in the first half of the
* Iskandar Waterfront, property developer off the coast of
southern state of Johor near Singapore, partly owned by the
Johor state government. A $300 million IPO likely in the second
half of 2014.
* Medini Iskandar, master property developer of 2200 acres
of land in the heart of Iskandar economic region in the southern
state of Johor, majority owned by state investor Khazanah
Nasional Bhd. An $800 million IPO expected in the
first half of 2014.
* Themed Attractions and Resorts Bhd, a theme parks operator
owned by Malaysia's state investor Khazanah Nasional. A $150
million IPO expected this year.
* Malaysian property developer Naza TTDI is expected to
raise some $250 million IPO in the first half of 2014.
* Malaysia's largest mobile operator by market value Axiata
plans to list its tower assets, with the IPO estimated
at $500 million.
* Internet-payment company MOL Global, the owner of social
networking site Friendster Inc. Controlled by Malaysian tycoon
Vincent Tan. The IPO is estimated at $300 million.
* Southeast Asia's largest offshore helicopter operator
Weststar, partly owned by U.S. private equity company KKR & Co
. A $625 million IPO expected in either 2014 or 2015.
* Malaysia's largest fund management firm Permodalan
Nasional Bhd's planned property trust listing. The deal is
expected in 2014 or 2015. The size has not been determined yet
but the property under PNB has a value of $4.7 billion.
* Ranhill Energy & Resources, the oil and gas
service firm that had its listing in 2013 cancelled due to a
disclosure breach related to the suspension of Petronas
license of one of its units. It is exploring a
comeback in 2014, with the IPO estimated at $230 million.
Seven Convenience, Malakoff, Icon Offshore, MOL, Weststar,
Boustead and Axiata have said they intend to list. 1MDB declined
to comment. Ranhill, Permodalan Nasional, Themed Attractions and
Resorts, Medini , Naza TTDI and Iskandar Waterfront were not
immediately available for comment.
(Reporting by Yantoultra Ngui; Editing by Edwina Gibbs)