Maxis Berhad will kick off the bookbuilding for its initial public offering today, having already secured the participation of four cornerstone investors, who will buy a combined $950 million worth of shares, or up to 29.7% of the deal depending on the price. The heavy cornerstone involvement -- three domestic pension funds and Fidelity -- will boost the chances that Malaysia's largest IPO ever will be a success.
The Malaysian mobile operator, which is a spin-off from Maxis Communications MCB, is seeking to raise between M$10.8 billion and M$12.4 billion $3.2 billion to $3.6 billion and is expected to list on the Malaysian stock exchange in mid-November.
Maxis Communications was taken private by its...
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