Malaysia Airports raises $298.6m from placement

The funds raised from the share offering, which met with strong international and local investor demand, is to be used to purchase a 40% stake in Istanbul's second airport.
Kuala Lumpur International Airport
Kuala Lumpur International Airport

Malaysia Airports Holdings has raised $298.6 million in a block trade and will use the proceeds to acquire a 40% stake in Istanbul's second-biggest international airport.

The Sepang-based airport operator put 124 million primary shares on offer, a mix of existing and enlarged share capital.

The final offer priced at 7.90 ringgit $2.40 a share on Tuesday, a 5.7% discount to the March 3 closing price of 8.38 ringgit. Shares were initially offered at between 7.70 ringgit and 8.10 ringgit $2.35 to $2.47, representing a discount of between 3.3% and 8.1%. The company has a market cap of $3.2 billion.

Shares in Malaysia...

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