Promise of big dividend puffs up bid for Gas Malaysia IPO
Gas Malaysia has already received enough demand to cover its MR734.5m ($235.2m) IPO after two days of bookbuilding, pulling in a particularly strong bid from domestic accounts amid expectations that it will offer a big dividend yield.
The deal is taking the form of a full secondary share sell down by some of the companys shareholders, and was launched on May 18, more than six months since the sellers delayed the launch after their first approach to the market.
But the wait has proved worthwhile,
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