Bankers started pre-marketing yesterday for Astro Malaysia Holdings, a consumer media entertainment group that is aiming to raise about $1.5 billion to $2 billion from its initial public offering, sources said.
Astro Malaysia is Malaysia’s leading integrated cross-media group with operations in four key businesses pay-TV, radio, content and digital and is the biggest residential pay-TV operator in the country. In 2011, it had a market penetration rate of about 50% of Malaysian TV households, of which it had a market share of about 99% of the residential pay-TV market, according to a draft prospectus.
According to the current timetable, the pre-marketing is expected to continue until...