Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News  >  Business Leaders  >  All news

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 
HomeAll newsMost read newsBusiness Leaders Biography 
Birthday : 06/13/1928
Place of birth : Guangdong - China
Biography : Richest man in Asia and eleventh global fortune according to Forbes in 2011, Li Ka-shing is the...

Malaysia's UMW Plans $500 Million IPO of Oil & Gas Unit

share with twitter share with LinkedIn share with facebook
share via e-mail
11/30/2012 | 11:26am CEST

--Malaysia's UMW Holdings plans at least $500M IPO of Oil & Gas Unit - sources

--UMW Holdings has called banks to advise on Malaysia IPO of Oil & Gas Unit - sources

(Adds background on Malaysia's IPO market this year, background on UMW)

   By P.R. Venkat and Jason Ng 

Malaysian industrial conglomerate UMW Holdings Bhd. (4588.KU) is planning to raise at least $500 million through an initial public offering of its oil and gas unit next year, according to two people with knowledge of the deal, making it the latest entrant into the Southeast Asian country's sizzling IPO market.

Malaysia earned its chops as a global hot spot for new listings this year, bucking a global slowdown in IPO activity. According to data tracker Dealogic, Malaysia ranks fifth in terms of funds raised in IPOs after U.S., Japan, China and Hong Kong. In 2011, Malaysia ranked 14th with $2.3 billion raised, less than a third of the $7.5 billion it has racked up so far this year.

UMW, which is 44.34%-owned by Malaysia's state asset manager Permodalan Nasional Bhd., has called investment bankers that it is considering as advisors for the IPO, which is slated for next year, said the people with knowledge of the deal.

A UMW spokesman declined to comment.

With the addition of UMW, Malaysia has about $2.5 billion worth of IPOs in the pipeline for next year, including plans by Westports Malaysia Sdn. Bhd. to raise $1 billion. People with knowledge of the deal said previously that Westports--the country's busiest port, owned by entities linked to Hong Kong tycoon Li Ka-shing and Malaysian industrialist G. Gnanalingam--is aiming for an IPO within first half of next year.

Last week, Zainal Abidin Jalil, chief executive at Malaysian power company Malakoff Corp. Bhd., said his company is looking to raise $1 billion through an IPO in the second quarter of 2013.

Apart from oil and gas, UMW has business interests in automotive equipment, manufacturing and engineering. It has a joint venture with Daihatsu Motor Co (>> DAIHATSU MOTOR CO., LTD.) to manufacture Perodua-branded cars. It also assembles Toyota-branded vehicles, sells earthmovers and distributes lubricants.

Malaysia's recent IPOs have met with strong demand from both local and foreign investors. The institutional portion of hospital operator IHH Healthcare Bhd.'s (5225.KU) $2 billion IPO was oversubscribed by more than 60 times, while Felda Global Ventures Holdings Bhd.'s (5222.KU) $3.2 billion IPO was more than 40 times oversubscribed. During Astro Malaysia Holdings Bhd.'s (6399.KU) $1.5 billion IPO book-building, orders outstripped supply by more than 30 times.

Write to P.R. Venkat in Singapore at venkat.pr@dowjones.com and Jason Ng in Kuala Lumpur at Jason.ng@dowjones.com

Corrections & Amplifications

This article was corrected at 11:05 GMT to add the name of the Hong Kong tycoon in the fifth paragraph. The Hong Kong billionaire linked to Westports is Li Ka-shing.

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : DAIHATSU MOTOR CO., LTD.
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news about Li Ka-shing 
09/23 LI KA-SHING : Li Ka-Shing could face regulatory snag on National Grid deal - sources
09/22 LI KA-SHING : Li Ka-shing planning bid for stake in National Grid gas unit - FT
07/07 LI KA-SHING : sources
06/21 LI KA-SHING : Tycoon Li Ka-shing urges Britons to vote against Brexit - Bloomberg
04/26DJLI KA-SHING : Canada's Husky Energy Posts Another Quarterly Loss -- Update
04/11 LI KA-SHING : CMA voices serious concerns over Hutchison-Telefonica deal
03/17DJLI KA-SHING : Li Ka-shing's Hutchison May Sell Stake in U.K. Phone Carrier
02/04DJLI KA-SHING : Li Ka-shing Flagship CK Hutchison Defends O2 Deal
2015 LI KA-SHING : Li Ka-Shing's CKI in the running in $3 billion London City Airport sale - sources
2015DJLI KA-SHING : Hong Kong Tycoon Li Ka-Shing To Face Challenge Over Merger
2015DJLI KA-SHING : Li Ka-shing Faces Challenge With CKI-Power Assets Merger
2015DJLI KA-SHING : Li Ka-shing Defends His Business Strategy
2015DJLI KA-SHING : Li Ka-shing's Urge to Merge Continues With Power Assets Plan
2015DJLI KA-SHING : FDG Electric Vehicles Deputy Chairman Sells Minority Stake to Li Ka-shing
2015DJLI KA-SHING : Li Ka-shing's Cheung Kong Property Plans to Sell Shanghai Project for $2.6 Billion
1  2  3  4  5  6  7  8  9  10Next

Most Read News 
10/19 CARLOS GHOSN : Nissan to appoint CEO Ghosn as Mitsubishi Motors chairman -sources
10/24 RATAN TATA : Patriarch steps in at India's Tata Sons after board ousts chairman
10/18DJJOHN STUMPF : John Stumpf Resigns From Boards of Target and Chevron
10/20DJALEXANDRE RICARD : Pernod Ricard Sales Up, Buoyed by Jameson, Martell, Absolut -- Update
10/22 FERDINAND PIËCH : Piech, Porsche families say united behind VW management - Spiegel
10/23DJJEFF BEWKES : Low-Key CEO Jeff Bewkes Reshaped Time Warner Before AT&T Sale
10/21DJLEN BLAVATNIK : Len Blavatnik Defends Boom-Era Merger of LyondellBasell
More news

Popular Business Leaders 
William Ackman Alain Afflelou Luc Besson Jeff Bezos Vincent Bolloré Martin Bouygues Richard Branson Warren Buffett Tim Cook Philippe Dauman Michael Dell Jamie Dimon Patrick Drahi John Edwards Larry Ellison Klaus Engel Carlos Ghosn Mario Greco Philip Green Yves Guillemot Herbert Hainer David Henry Jean-françois Hénin Carl Icahn Ian King Jack Ma Marissa Mayer Lakshmi Mittal Leslie Moonves Rupert Murdoch Elon Musk Daniel Och Wolfgang Porsche Sumner Redstone Alexandre Ricard Charles Scharf Ulf Mark Schneider Charles Schwab George Soros Ulrich Spiesshofer Rupert Stadler Robert Stewart John Stumpf Tidjane Thiam François Villeroy De Galhau Martin Winterkorn Andrew Witty Dieter Zetsche Mark Zuckerberg
A-Z Business Leaders