KUALA LUMPUR: Ranhill Energy and Resources Bhd (Ranhill Energy), a Malaysian energy and water company, is expected to launch its RM1 billion (US$319.23 million) worth of initial public offering (IPO) on the local stock exchange on June 28, two sources close to the deal told Reuters.
The listing comes after the Southeast Asian country’s general elections concluded with a win for the long-ruling National Front on May 5, encouraging companies to move forward with their listing plans as political risk ebbs.
Long-haul carrier AirAsia X Bhd is looking to raise US$370 million in an IPO, with pricing to take place on June 24. The group is currently on a roadshow around Malaysia to promote its IPO.
Meanwhile, Malaysia’s state investor Khazanah Nasional Bhd plans to list its theme park business in an IPO that will raise up to $150 million next year.
“They are finalising the cornerstone investors now,” said one of the sources, who declined to be named because the matter was private.
The second source said pricing and listing are expected in July.
Ranhill Energy officials were not immediately available to comment. — Reuters