No time for Time

InvestorsÆ lacklustre reaction to the IPO of Time dotCom is a reflection as much on Malaysia Inc as the stock.

If stock exchanges are the opinion polls of economic policies, then major IPOs are the general elections of finance When a major initial public offer (IPO) is launched, both domestic and foreign investors are given the opportunity to ‘put up or shut up’ In the case of Time dotCom’s IPO in Malaysia, investors have voiced their opinion And for the Malaysian government it can scarcely be said to be positive

The IPO of Time dotCom was designed to raise cash to pay down some of its M$5 billion ($1 32 billion) debt pile However, only 25% of the deal was subscribed If you exclude the stock that was privately...

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