MMC mulls reviving RM4.1bil IPO of port assets

MMC owns ports including Pelabuhan Tanjung Pelepas and Johor Port in the southern state and Northport in Klang (pic).

KUALA LUMPUR: Utility and infrastructure group MMC Corp is reviving an initial public offering plan for its port assets, which could be the biggest listing in the country since 2012, according to people familiar with the matter.

The company, controlled by Tan Sri Syed Mokhtar Al-Bukhary, is seeking to raise about US$1bil (RM4.14bil) from the first-time share sale, the people said, asking not to be identified as the process is private. The firm is in talks with potential advisers and a listing could take place as early as the end of next year, they said.