Kuala Lumpur: Maxis, Malaysia's leading
mobile operator controlled by Srilankan-origin businessman has
raised the largest ever IPO in South-East Asia running into
USD 3.3 billion and plans to invest it in India.
The strong demand from the investors for the IPO came
after the company's CEO Sandip Das led a team of officials on
an international roadshow.
The company controlled by reclusive Indian-Srilankan
origin Ananda Krishnan and part owned by Saudi telecom offered
2.25 billion or 30 per cent of its shares at a price of 5
ringgit, with 90 per cent of the shares taken by institutional
investors.
Maxis, according to its top officials plans to invest the
huge money raised in the booming Indian and Indonesian markets
and to reduce debt.
The officials said the listing was for only Maxis, the
parent company and excluded its ventures in India and
Indonesia. Maxis owns Chennai-based Indian telecom company
Aircel.
The reclusive Ananda Krishnan owns 45 per cent stake in
Maxis communication with a Saudi telecom owning 25 per cent
and the rest by local funds.
Bureau Report
First Published: Wednesday, November 11, 2009, 18:02