Objektif picks fixed price for $202m Bumi block

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By Rashmi Kumar
28 Aug 2014

Bumi Armada’s biggest shareholder, Objektif Bersatu, has raised MR636.4m ($202.1m) by selling a 7% stake in the Malaysian company. Launched on the back of news of an upcoming rights issue, the block came with a fixed price to ensure the final deal size could increase with demand.

Objektif was originally planning to offload 155m shares in Bumi, via bookrunners CIMB, Credit Suisse, Maybank and UBS. But the leads offered no price guidance to investors and instead came out with a fixed price of MR2.96 per share.

“We knew that investors were very ...

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