Westports Holdings to launch prospectus on Thursday

KUALA LUMPUR: Port operator Westports Holdings Bhd is scheduled to launch its much-awaited prospectus on Thursday. 

According to an e-mail invitation on Tuesday, Prime Minister Datuk Seri Najib Tun Razak is scheduled to attend the release of the prospectus.

The Westports IPO comprises 813 million shares, with 710 million for institutional investors and the remainder for retail investors.

Westports would not be issuing new shares under the IPO and it would not receive any proceeds from the IPO.

Under its pre-listing exercise, it will undertake a bonus issue of 183 million shares on the basis of 1.56 bonus shares for every one share held. This would be by capitalising RM183mil from its retained earnings of RM149mil and from its share premium of RM34mil.

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