Astro prices Malaysian IPO at the top, raising $1.5 billion

The Ananda Krishnan-backed pay-TV operator attracts 16 cornerstones and $10 billion of demand from other institutional investors.

Astro prices Malaysian IPO at the top, raising $1.5 billion

Astro Malaysia Holdings, the consumer media entertainment group that is backed by Malaysian business billionaire Ananda Krishnan, has priced its initial public offering at M$3 per share to raise M$4.56 billion $1.5 billion.

The final price, which is at the top of the indicative range and values the country’s leading pay-TV operator at a premium to most international peers, was in line with expectations after the deal met with strong demand from institutional...

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