Foreign insurers look at RM8.58bil deals in Malaysia

Prudential has asked banks to pitch for a role advising on a domestic initial public offering (IPO) of its Malaysian unit, an option it is considering alongside a potential stake sale to an investor, according to the people.

KUALA LUMPUR: Overseas insurers including Prudential Plc are pursuing plans to sell stakes in their Malaysian units, in deals that could raise at least a combined US$2bil (RM8.58bil) and help them comply with foreign ownership limits, people with knowledge of the matter said.

Prudential has asked banks to pitch for a role advising on a domestic initial public offering (IPO) of its Malaysian unit, an option it is considering alongside a potential stake sale to an investor, according to the people.