Westports Malaysia Sdn Bhd Sets IPO Shares To Indigenous Investors At MYR2.5-Reuters
Reuters reported that Westports Malaysia Sdn Bhd has offered shares in its IPO to indigenous bumiputra investors at MYR2.50 per share. The initial public offering, expected by October 2013. Based on a price of MYR2.50, the total 813.19 million shares Westports plans to sell would be worth about MYR2.03 billion ($613 million), according to Reuters calculations. About 392.15 million shares are reserved for bumiputra investors. Final pricing of the IPO is expected some time at the end of September. Westports officials were not immediately available to comment. Credit Suisse, Goldman Sachs and Maybank Investment are the three joint global coordinators. Bank of America Merrill Lynch, Credit Suisse, Goldman Sachs, HSBC and RHB Investment are the bookrunners.
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