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Maxis to Raise $2 Billion in Malaysian IPO: Reports

Maxis, Malaysia's biggest telecom firm plans to list on the stock market by mid-November, media reports said.

The offering, which is expected to raise about US$2 billion, is expected to reap big rewards for the telco's shareholders.

Local tycoon Ananda Krishnan holds 75% of Maxis with the remaining 25% held by Saudi Telecom.

Muhammad al-Jasser, the chairman of the Board of Saudi Telecom in Istanbul, told CNBC that Maxis has been a good investment in their first forray into international markets.

"It's proved to be a very good one. We learned a lot together, we enhanced the business and therefore now this is really the crowning of the experience," al-Jasser said.

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