Kuala Lumpur’s Bursa Malaysia has been the
leading exchange in Asia for IPOs so far this year, buoyed by a spate of state-driven listings. Hong Kong, the world leader in IPOs for the past few years has seen a sharp slowdown in 2012.
Astro is one of Malaysia’s largest cable television operators, and it also runs eight radio stations in the country. The company’s ownership is divided between local telecommunications tycoon Ananda Krishnan and the Malaysian sovereignt wealth fund Khazanah Nasional Bhd.
According to Astro’s
prospectus, proceeds of the offering will be used for capital expenditures and the repayment of bank loans.
Clifford Chance is advising Astro on U.S. and English law while Malaysian firm Kadir, Andri is acting as local counsel.
Malaysian banks CIMB Group Holdings Bhd., Malayan Banking Bhd., and Rashid Hussein Bank Bhd. are acting as underwriters to the deal, and they are being represented
Linklaters and Kuala Lumpur-based
Zul Rafique & Partners.
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