Masterskill IPO draws strong interest despite deteriorating markets

The Malaysian operator of nursing schools prices at the top and upsizes in full for a total deal size of $243 million.

Malaysia's largest private-sector operator of nursing schools, Masterskill Education Group, has raised M$779 million $243 million in Malaysia's largest initial public offering so far this year. In completing the deal, Masterskill has shrugged off the deteriorating market conditions and rising risk awareness that have forced several other IPO candidates to either cancel or downsize this week.

In sharp contrast to those war stories, Masterskill attracted a strong book of international investors that included specialist education funds and global funds as well as sovereign wealth funds, according to a source. The overall deal was more than five times covered, which allowed the upsize option to be exercised in full, increasing the final deal size to 50%...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222