Thursday, 8 March 2012

Flash: MAHB to raise RM616m from private placement

KUALA LUMPUR (March 8) : Malaysia Airports Holdings Bhd (MAHB) has fixed the price of its recently announced private placement of up to110 million new shares at RM5.60. This translates into gross proceeds of RM616 million, MAHB told the stock exchange on Thursday.

Gross proceeds from the private placement will partly finance the additional capital expenditure for the enhancement work within the new low cost carrier terminal at Kuala Lumpur International Airport, MAHB said.

According to the airport operator, the RM5.60 issue price for the placement shares is an estimated 2.4% discount to to the five-day volume weighted average market price of MAHB shares up to Wednesday of RM5.738 and a discount of approximately 0.9% to the closing price of RM5.65 on that day.

MAHB share price ended the morning session at RM5.63.

MAHB said book-building for its private placement has been completed and had drawn interest from domestic and foreign institutional investors.

Maybank Investment Bank and JPMorgan Securities (Malaysia) Sdn Bhd acted as joint placement agents for the private placement.

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