Astro proves Malaysia IPO blowouts no passing fad
Astro Malaysia Holdings priced its MR4.56bn ($1.49bn) IPO this week, selling stock at the top of the range and getting enough institutional demand to cover the book more than 30 times, writes Louisa Burwood-Taylor.
The offering was the third largest listing in Malaysia this year after jumbo deals from Felda Global Ventures and IHH Healthcare and proved that rapturous demand among equity investors for Malaysian risk is here to stay.
ECM bankers in much of Asia have struggled to generate demand
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