Maxis listing could be complete by mid-November

Maxis Communications, owner of Malaysia’s largest mobile network operator by subscribers, Maxis Mobile, expects to complete the IPO of its Malaysian operations by mid-November, Reuters reports. Maxis is expected to commence investor roadshows for the share sale sometime early next month, while book building for its institutional offering will be started by 9 November. The listing of Maxis Berhad, under which Maxis Mobile will be placed, is likely to be completed by the middle of November. As previously reported by CommsUpdate, Maxis will offer 2.25 billion shares of its issued and paid-up capital, equivalent to an approximate 30% stake, with 27.67% offered to institutional investors, and the remaining 2.33% set aside for retail investors. The sale is expected to raise around MYR9 billion (USD2.5 billion), making it the largest IPO in Malaysia since 1995.