Malaysia Airports follow-on

Malaysia Airports raises $205 million from follow-on share sale

The defensive nature of the stock helps attract strong demand from investors, despite recent volatility in global markets.
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Malaysia Airports operates all of the country’s 39 airports
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<div style="text-align: left;"> Malaysia Airports operates all of the country’s 39 airports </div>

Malaysia Airports Holdings, which is majority-owned by Khazanah Nasional, has raised M$616 million $205 million from a follow-on share placement. The bookbuilding was launched at around 5.30pm Hong Kong time yesterday and closed after about two hours.

The airport operator offered 110 million shares at a price between M$5.50 and M$5.60, which translated into a discount of 0.9% to 2.7% versus yesterday’s close of M$5.65. The price was fixed at the top for a 0.9% discount. While this looks tight, the share price fell 2.4% yesterday and was also down on Monday, and the term sheet noted that the final price came at a less aggressive discount of 2.4%...

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