KUALA LUMPUR: Westports Holdings Bhd
, operator of Malaysia's busiest port, has recruited mostly state-linked funds to take up 90 percent of an institutional tranche, two sources said, as it looks to shield its $610 million IPO from jittery regional markets.
Westports is using this strategy to push on with its IPO as flotations in neighbouring Indonesia and the Philippines have either been downsized or delayed due to global market volatility and pricey valuations.
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