BREAKINGVIEWS-Domestic demand blesses $3 billion Felda IPO
By Wei Gu
HONG KONG, June 14 (Reuters Breakingviews) - Malaysian palm oil supplier Felda priced near the top of the range, making it the second biggest offering of 2012, and propelling Kuala Lumpur to the top of Asia IPO tables. The reason isn’t just demand for oil but for stocks. South-East Asia’s investors are still hungry.
Full view will be published shortly.
SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS:
- Malaysia's Felda Global Ventures Holdings priced its IPO at 4.55 ringgit, or $1.43, a share on June 13, near the top of its indicative range. The company raised $3.1 billion, making it the world’s second-biggest IPO this year behind Facebook, which raised $16 billion in May.
- The top exchange in terms of Asia IPO proceeds is China’s Shenzhen ChiNext start-up market, which had raised $3.4 billion in the year to June 13, according to Thomson Reuters data. Felda would put Kuala Lumpur on par with or slightly ahead of ChiNext as the top IPO destination in Asia.
- Reuters: Malaysia's Felda prices $3.1 bln IPO near top end [ID:nL3E8HD6KE]
Tortoise and hare [ID:nL4E8H141F]
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own)
- For previous columns by the author, Reuters customers can click on [GU/]
((email@example.com)) Keywords: BREAKINGVIEWS FELDA
(C) Reuters 2012. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing, or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
- Tweet this
- Share this
- Digg this
- Ten countries scour sea for Malaysia jet lost in 'unprecedented mystery' |
- Voters more receptive to UKIP than polls show - study
- Exclusive: Malaysia plane probe narrows on mid-air disintegration - source
- Confrontation in Ukraine as diplomacy stalls |
- Missing Malaysian jet may have disintegrated in mid-air - source |