Astro prices Malaysian IPO at the top, raising $1.5 billion

Astro Malaysia Holdings, the consumer media entertainment group that is backed by Malaysian business billionaire Ananda Krishnan, has priced its initial public offering at M$3 per share to raise M$4.56 billion $1.5 billion.

The final price, which is at the top of the indicative range and values the country’s leading pay-TV operator at a premium to most international peers, was in line with expectations after the deal met with strong demand from institutional investors.

Like the two other multi-billion dollar Malaysian IPOs this year palm oil producer Felda Global Ventures and hospital operator IHH Healthcare Astro had set aside a large portion of the...