Bumi Armada raises RM2.7bil in IPO

KUALA LUMPUR: Bumi Armada Bhd, a company controlled by billionaire T. Ananda Krishnan, raised RM2.66bil after pricing shares at the upper half of its indicative range in Malaysia's biggest initial public offering this year, two people familiar with the matter said.

The oil and gas services company sold shares at RM3.03 each, said the people who asked not to be named as the information is still private.