Bursa Malaysia IPO: trading on reform

IPO offers investors exposure to upside promised by capital markets reform.

Bursa Malaysia began roadshows yesterday February 17 for a $110 million to $140 million IPO via CIMB and UBS. The exchange is offering 166 million new shares on a price range of M$2.50 to M$3.20, with retail investors paying the lesser of M$3, or a 3% discount to the institutional price.

The deal has a split of 116.9 million shares in the institutional tranche and 49.1 million shares in the retail tranche. Specialists estimate that...

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