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Maxis to Raise $2 Billion in Malaysian IPO: Reports
Published:
Tuesday, 6 Oct 2009 | 11:43 PM ET
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By: CNBC.com
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.
© 2009 CNBC.com
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