Member access

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

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 
HomeAll newsMost read newsBusiness Leaders Biography 
Li Ka-shing
Country of residence : China
Birthday : 06/13/1928
Linked companies : Cheung Kong Holdings - Husky Energy Inc. - Cheung Kong Infrastructure Holdings Ltd. - Hutchison Whampoa Limited - Cheung Kong (Holdings) Limited

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

11/30/2012 | 05:26am US/Eastern
Recommend:
0

--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.
Recommend :
0
React to this article
Latest news about Li Ka-shing 
In Chinese Property, Smart Players Are Selling
2 days ago - By Esther Fung SHANGHAI--For years, Chinese property has been a sure bet for savvy investors looking to ride the country's economic surge. Now, some of the best-known names in Chinese investing are cutting back, at least for th...
Li Ka-shing's Arm to Spent CNY250mn on NZ Vineyard
04/03 - HONGKONG, April 3, SinoCast -- Asia tyhoon Li Ka-shing's CK Life Sciences Int'l., Inc. on April 2 announced the acquisition of New Zealand Mud
Temasek in Advanced Talks to Buy Strategic Stake in Li Ka-shing's Watson & Co
03/21 - By P.R. Venkat Singapore state investment firm Temasek Holdings Pte. Ltd. is in advanced talks to buy a stake in Li Ka-shing's A.S. Watson & Co. that could be valued at billions of dollars, people with knowledge of the deal said F...
Li Ka-shing's Watson Plans $5-$6 BLN Hong Kong-London IPO -- Update
03/18 - By Prudence Ho and P.R. Venkat Hong Kong billionaire Li Ka-shing's retail flagship plans to list in both Hong Kong and London by the end of June, people familiar with the situation said Tuesday, in what could be one of the world's lar...
Advertisement
Popular Business Leaders 
Sheldon Adelson Paul Allen Mukesh Ambani Bernard Arnault Luc Besson Vincent Bolloré Martin Bouygues Richard Branson Warren Buffett Steve Case Benjamin De Rothschild Paul Desmarais Bill Gates Philip Green Carl Icahn Steve Jobs Li Ka-shing Eric Knight Arnaud Lagardère Lakshmi Mittal Rupert Murdoch François-henri Pinault Naguib Sawiris Stephen Schwarzman Carlos Slim George Soros Donald Trump Guy Wyser-pratte Jerry Yang Romain Zaleski
A-Z Business Leaders
Most Read News 
BlackRock Profit Climbs
04/17 - BlackRock Inc. said its first-quarter earnings climbed 20%, surpassing analysts' forecasts as revenue rose on strong pe...
Tech workers seek to use Steve Jobs evidence in upcoming trial on no-hire accords
6 days ago - SAN FRANCISCO (Reuters) - Four large technology companies should not be allowed to limit evidence about Apple Inc co-found...
Billionaire Usmanov remains Russia's richest tycoon - Forbes
04/17 - MOSCOW (Reuters) - Alisher Usmanov is Russia's richest tycoon for the third year in a row, with wealth of $18.6 billion (1...
James Murdoch joins board of ad platform company
04/17 - (Reuters) - James Murdoch, the co-chief operating officer of 21 Century Fox, is joining the board of digital advertising p...
Fashion house Armani pays 270 mln euros to settle Italian tax dispute - paper
6 days ago - MILAN (Reuters) - Fashion house Giorgio Armani paid 270 million euros (222 million pounds) to Italian tax authorities last...
More news
Dynamic quotes  
ON
| OFF