Astro Malaysia seeks up to $1.5 billion from IPO

Astro Malaysia Holdings, a consumer media entertainment group, is set to start bookbuilding today for its initial public offering, which is targeted to raise between M$4.1 billion and M$4.56 billion about $1.3 billion to $1.5 billion, sources said.

Malaysia has been a bright spot for IPOs this year. Drawing support from domestic pension money, the country has produced two of the world’s biggest offerings so far this year Felda Global Ventures and IHH Healthcare, which raised more than $5 billion in total in June and July.

Equity capital market volume in Malaysia stands at $8.64 billion year-to-date, which is more than double that of...