Malaysia’s Tune Ins raises $92 million from IPO

The insurance product manager attracts strong demand for the country’s first IPO this year, while Sunway Reit raises $103 million from a follow-on offering.

Tune Ins Holdings, which is partly owned by AirAsia, has raised M$283.8 million $92 million from an initial public offering in Malaysia, after fixing the price slightly below the midpoint of the indicative range, a source said yesterday.

According to Dealogic, this is the first IPO in Malaysia this year. It comes after the country became a bright spot for IPOs last year supported by ample domestic pension money. Malaysian IPO volumes reached $7.5 billion in 2012, boosted by a few billion dollar deals, up from $2.3 billion in 2011, the Dealogic data show.

Tune Ins’ order books were closed on Monday February 4,...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222