Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

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

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesHot NewsMost Read NewsRecomm.Business LeadersVideosCalendar 
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

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

--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.
React to this article
Latest news about Li Ka-shing 
06/09DJLI KA-SHING : Li Ka-shing Firms Sell Stake in Power Utility to Qatar for $1.2 Billion - Update
04/20 LI KA-SHING : Li Ka-shing's conglomerates move closer to complete restructuring
03/24DJLI KA-SHING : Li Ka-shing's Record $15 Billion O2 Buyout Caps Europe Turnaround
03/17DJLI KA-SHING : Li Ka-shing's New Conglomerate CK Hutchison Rises on Trading Debut
03/11 LI KA-SHING : Cheung Kong Delisted with Closing Price of HKD153.1
02/26DJLI KA-SHING : Will Consider Retirement When Conglomerate 'Moves to Next Stage'
01/26 LI KA-SHING : Tycoon Li swoops to buy O2
01/24 LI KA-SHING : Asia's richest man Li Ka-shing to buy UK's second biggest wireless carrier O2 for USD 15 bln
01/21 LI KA-SHING : Ka-Shing builds UK portfolio in Eversholt deal
01/20 LI KA-SHING : Li Ka-shing to acquire Eversholt Rail
01/20DJLI KA-SHING : Li Ka-shing's JV to Buy U.K.'s Eversholt Rail Group
01/16 LI KA-SHING : Li Ka-shing to restructure group
01/13 LI KA-SHING : Hong Kong tycoon Li Ka-shing regains crown of Asia's richest person
01/12DJLI KA-SHING : Li Ka-shing's Shakeup Applauded by Investors -- Barron's Asia
01/11 LI KA-SHING : Cheung Kong, Hutchison to reorganize asset
1  2  3  4  5  6  7  8  9  10Next

Advertisement
Most Read News 
07/23DJRANDALL STEPHENSON : Why AT&T Chief Randall Stephenson Needs a Slam Dunk
07/24 JEFF BEZOS : Amazon.com CEO Bezos up $8 billion, down $4 billion on stock swing
07/24DJDAVID CORDANI : Anthem Agrees to Buy Cigna for $48 Billion--2nd Update
07/25DJANSHU JAIN : Ex-Deutsche Bank Official Jain Cleared of Misleading Regulators Over Libor Rigging
07/23DJBERNARD MADOFF : Madoff Trustee's Firm Seeks Payment of Legal Fees
07/23DJPAUL WALSH : SEC Investigating Smirnoff Maker Diageo--Update
07/27DJPATRICK DRAHI : Drahi Boosts Media Holdings With NextRadioTV Buy
More news

Popular Business Leaders 
Jean-michel Aulas Ernesto Bertarelli Vincent Bolloré Martin Bouygues Richard Branson Warren Buffett Stéphane Courbit Serge Dassault Jean-claude Decaux David Einhorn Larry Ellison Pierre Fabre Bill Gates Carl Icahn Steve Jobs Li Ka-shing Kirk Kerkorian Arnaud Lagardère Maurice Lévy Lakshmi Mittal Rupert Murdoch Nelson Peltz François-henri Pinault Ferdinand Piëch Lee Shau Kee Carlos Slim George Soros Donald Trump Alain Weill Guy Wyser-pratte
A-Z Business Leaders