Maxis sets IPO price at RM4.75

PETALING JAYA: Maxis Bhd has set the price of its initial public offering (IPO) shares at RM4.75 each while institutional and cornerstone tranches are at RM5 per share, which will collectively raise about RM11.2bil from the listing of 2.25 billion shares on Bursa Malaysia.

The market capitalisation at the institutional price and its enterprise value would amount to RM37.5bil and RM42.5bil respectively, the mobile communications service provider said in a statement yesterday, after the close of its book-building exercise.