Astro to launch largest IPO in Asia
Astro to launch largest IPO in Asia
KUALA LUMPUR: Malaysian satellite television operator Astro expects to raise more than 1.10 billion ringgit (US$289 million) in what is billed as one of Asia's largest share offerings this year, bankers said Friday.
"For Asia, this is expected to be among the top five largest equity offerings ... this year," Commerce International Merchant Bankers (CIMB) chief executive Nazir Razak told reporters at an underwriting ceremony here.
"This IPO is expected to raise more than the cumulative total of 1.10 billion ringgit raised by the 41 IPOs undertaken in Malaysia so far this year."
He declined to elaborate ahead of the launch of a prospectus next month for the IPO of the Astro All Asia Networks, the operator of satellite pay television owned by tycoon Ananda Krishnan.
Astro is offering 508.40 million new shares in the IPO, comprising a retail portion of 83.40 million shares and institutional offering of 425 million units.
The new shares will comprise 26.60 percent of Astro's enlarged paid-up share capital. -- AFP
;AFP; ANPAf..r.. Corporate-Airbus-production Airbus to build more aircraft JP/14/Brief
Airbus to build more aircraft
FRANKFURT, Germany: European aircraft maker Airbus expects to build a record number of aircraft -- 385 in all -- in 2005, compared with 306 this year and 313 next year, the Financial Times Deutschland reported on Friday, quoting internal group documents.
Airbus is expecting to build 262 A320 jets and 84 A330 and 340 aircraft in 2005, the newspaper said.
FT Deutschland quoted an Airbus spokeswoman as refusing to comment on the information. She noted that Airbus only ever publishes the number of aircraft delivered, not the number of aircraft built.
Chairman Noel Forgeard recently said Airbus was on course to meet its target of 300 new aircraft deliveries in 2003 and finish the year with 250 more orders on its books.
Forgeard said he expected next year to see similar sales figures as in 2003 and Airbus was countinng on an upturn in 2005. -- AFP