Flat re-entry for Astro

Back on board: (from left) Astro Holdings Sdn Bhd chairman Datuk Badri Masri, Rohana and Astro Malaysia Holdings Bhd chairman Tun Zaki Tun Azmi at the listing ceremony in Kuala Lumpur.

THE local market has been abuzz for weeks over the relisting of Astro Malaysia Holdings Bhd in a RM4.6bil initial public offering (IPO) making it the third largest listing in Malaysia this year. Analysts say despite the hype, there was some disappointment on its relatively demanding valuations as well as Astro's share price performance on day one.

Nevertheless, Astro has garnered a lot of interest in the market. A sign of strong investor appetite is that its shares were oversubscribed by more than 20 times by institutional investors and oversubscribed by 6.08 times for the retail portion.