Maxis raises $3.3 billion from record Malaysian IPO

The country's largest mobile operator returns to the stockmarket without its overseas operations, attracting investors mainly as a yield play.

Maxis Berhad, Malaysia's leading provider of mobile communication services, has raised M$11.12 billion $3.3 billion from the country's largest ever initial public offering after pricing the deal in the lower half of the indicated range.

International investors came into the deal amid expectations that Maxis will pay a relatively high yield - the company has promised to distribute at least 75% of its net profit, although most observers expect the real payout to be much larger than that...

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