SINGAPORE: MMC Port Holdings has hired CIMB Group Holdings Bhd
and Malayan Banking Bhd (Maybank) to work on a more than RM6bil (US$1.3bil) initial public offering (IPO) in Malaysia, say two sources with knowledge of the matter.
RHB Bank Bhd and UBS have also been tapped to work on the IPO, a third and fourth source said.
The IPO, Malaysia’s biggest in more than a decade, was expected to hit the market as early as the second half of this year, or in 2026, and would likely value MMC Port at more than RM25bil, the sources said.
More banks are also expected to be brought in, the first source said. All four sources declined to be named as the matter was private.
MMC did not respond to emails from Reuters seeking comment. CIMB said it did not “disclose or comment on specific names or clients”. Maybank and RHB said they were unable to comment. UBS said it had no comment. — Reuters
