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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