MMC PORT Holdings Sdn Bhd is pressing ahead with its planned listing in Malaysia, according to people familiar with the matter, in what could be the biggest initial public offering in Kuala Lumpur in more than a decade.
The port operator, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary, has confidentially filed listing documents with regulators and is awaiting approval to post a draft prospectus, the people said, asking not to be identified because the process is private.
MMC Ports could seek to raise about $2 billion in a share sale as soon as September, the people said. The planned listing could value the company at as much as $7 billion, some of the people said.
Considerations are ongoing and details including size and timing may change, the people said, adding that MMC Ports could also decide against an IPO.
...
