KUALA LUMPUR: MMC Port Holdings Sdn Bhd (MMC Ports) is expected to start investor education for its planned initial public offering (IPO) as soon as this week, people familiar with the matter say, in what is set to be the biggest IPO in Malaysia since 2012.
Pre-deal investor meetings (PDIE) with key institutional players will likely run until Oct 3, the people said, asking not to be identified because the process is private.
During this PDIE meeting phase, MMC Ports plans to explain topics such as the investment case and valuation of the business, the people said.
MMC Ports may seek to file its final IPO prospectus by the end of September and list on the local bourse in the second half of November, the people said.
Considerations are ongoing and the IPO timing could change, the people said.
A representative for MMC Ports parent MMC Corp didn’t respond to a request for comment outside of business hours.
MMC Ports, owned by Malaysian tycoon Tan Sri Syed Mokhtar Al-Bukhary, could seek to raise about US$2bil in a share sale valuing it at as much as US$7bil, Bloomberg News reported in June.
The company operates seven ports along the Straits of Malacca, one of the world’s busiest shipping lanes, and is the biggest such business in Malaysia, according to its website. It also runs three cruise terminals.
If the IPO proceeds, it could be the biggest since plantation group FGV Holdings Bhd
raised more than RM10bil (US$2.4bil) in 2012, data compiled by Bloomberg showed. — Bloomberg
