Astro sets price range for RM4.56b IPO

Astro is controlled by Malaysia’s second-richest man Ananda Krishnan, who has investments in telecom and energy assets

KUALA LUMPUR: Astro Malaysia Holdings Bhd, a pay-TV firm, has set an indicative price range of RM2.70-RM3 per share for institutional investors for its initial public offering (IPO) that could raise up to RM4.56bil, a source with direct knowledge of the deal said.

The IPO, which is expected to be listed by end-September or early October, would be Malaysia’s third-largest this year after share sales by Felda Global Ventures Holdings Bhd in June and IHH Healthcare Bhd in July.