Nasdaq listing for Astro predicted

Satellite television network Astro is said to still be hoping to become the first Malaysian company to list in the US, with plans for a Nasdaq IPO.

The company, controlled by local tycoon and Mahathir associate T. Ananda Krishnan, is believed to be reviving flotation plans, which will either see it listed at the close of the fourth quarter, or early next year.

Goldman Sachs and Morgan Stanley Dean Witter hold the mandate to raise roughly $300 million for the company, which wants to complete a simultaneous listing on Mesdaq, Malaysia's technology exchange. Earlier this year, state news agency Bernama reported that the Securities Commission was reviewing a dual listing proposal for 10% of the company's equity.

The plan soon fell by the wayside, however, following the Nasdaq's sharp drop-off and is being reviewed now ...

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