Astro pre-markets $500 million IPO

The $400 million to $500 million IPO of Malaysian satellite broadcaster Astro marks a turning point for the region's equity markets in 2003, as the primary market switches focus back to the traditional Asian growth stock after months of dividend yield plays. Under the lead management of CIMB, DBS, Goldman Sachs and UBS, pre-marketing of the deal began last Monday, with formal roadshows scheduled for the week of September 22 and pricing towards the end of the second week of October.