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Friday 21 September 2012

Astro IPO

Stock Name: ASTRO
Indicate IPO Price: RM 3.00
Owned by: Ananda Krishnan (Malaysian's second-richest man)
Total fund raising: RM 4.55 billion
Total offered units: 1.52 billion shares
Investors
Bumiputra: 597.69 million shares (39%)
Other institutional and selected: 661.75 million shares (44%)
Retail: 259.865 million shares (17%)
Based on total retail offering, Malaysian public portion offering for bumi and non-bumi is just 51.973 million shares (i.e. 1%) each.
Dividend policy: >=75%
DY: 3% based on IPO price of RM 3.00

Among 22 cornerstones investors are:
  • tycoon Chua Ma Yu, 
  • Kencana Capital Libra Investment Sdn Bhd, 
  • Great Eastern Life Assurance, 
  • Myriad Opportunities Masterfund, 
  • Nomura Asset Management, 
  • Antell Holdings Ltd, 
  • hedge-fund Azentus Global Opportunities Masterfund Ltd, 
  • Caprice Capital International Ltd, 
  • Cornstone Smith Asset Management, 
  • Gordel Capital, 
  • five units of Ochis-Ziff, 
  • TPG-Axon International, 
  • TPG Axon Partners and 
  • pension fund Universities Superannuation Scheme. 
  • Malaysian state-owned fund management firm Permodalan Nasional Bhd (the largest cornerstone investors)

Timetable for IPO
21-09-2012  Opening of application
01-10-2012  Closing of application
04-10-2012  Balloting of applications
17-10-2012  Allotment of IPO shares to successful applicants
19-10-2012  Tentative listing date


From Bursa:  Astro prospectus


News on Astro:
http://www.theedgemalaysia.com/highlights/221008-music-tv-bar-islam-compliant-investors-from-malaysias-astro-ipo.html
Astro to raise RM4.6b from IPO
Astro listing reaffirms Malaysia as key investment
PNB invests big in Astro
Astro's indicative price of RM3 per share for retail portion

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