Bumi Armada to raise US$897 million in IPO
July 08, 2011
KUALA LUMPUR, July 8 — Bumi Armada is set to raise RM2.7 billion in its planned initial public offering, a term sheet showed, in what could be Southeast Asia’s second-largest listing this year.
The offshore oil and gas service provider sold its institutional portion of 798.7 million shares at RM3.03 a share.
The books were covered almost 50 times ahead of its listing on July 21, with strong demand almost evenly split between domestic and foreign investors, signalling improved sentiment despite recent volatility in Asian financial markets.
The retail portion of 79.9 million shares will be priced at RM3.15 per share or at the institutional price, whichever is lower. That means
the retail investors will also pay RM3.03 apiece for Bumi Armada shares.
Bumi Armada is part of the stable of companies owned by Malaysian tycoon T Ananda Krishnan (picture), who also has a controlling interest in Malaysian telecommunications company Maxis.
Bumi Armada was privatised in 2003 and a planned relisting in 2008 was delayed due to the global financial crisis. A subsequent relisting plan was also shelved.
The IPO will become the largest offer in Malaysia since the listing of Petronas Chemicals last year. It ranks second to Hutchinson Port’s Singapore listing.
Joint global coordinators for the IPO are CIMB, Maybank and Credit Suisse. The banks are also joint bookrunners with RHB, CLSA and UBS. — Reuters
p/s: Nampaknya yg berjaya nnti akan dpt refund perbezaan hg RM3.03..