7-Eleven Malaysia prices at top of range

Limited allocation ensures strong institutional demand as IPO prices at M$1.38, raising M$732 million.

7-Eleven Malaysia prices at top of range

7-Eleven Malaysia Holdings Berhad raised M$732 million US$227 million on Friday after pricing its initial public offering of shares at the top of its M$1.33 to M$1.38 targeted range.

The institutional order book was more than 12 times oversubscribed early in the bookbuild, but that was not surprising since only 8% of the base 530.2 million-share-deal was earmarked for institutional investors.

The fact there was so little paper on offer...

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