Malaysia's Astro IPO oversubscribed

Malaysia's Astro IPO oversubscribed

KUALA LUMPUR: Malaysian satellite television operator Astro's initial public offering (IPO) was 8.16 times oversubscribed by the public, the Malaysian Issuing House said on Monday.

MIH said 111,817 applications were received for 241.21 million shares for Astro All Asia Networks' public tranche.

For eligible Astro subscribers, retailers, distributors and installers, it said 88,139 applications were received for 245.41 million shares, representing an oversubscription rate of 6.22 times.

MIH said Astro's institutional offering of 425 million shares to foreign and Malaysian institutional and selected investors was fully subscribed.

Astro said on Sunday the IPO's retail portion was fixed at 3.65 ringgit a share and its institutional portion at 4.06 ringgit (US$1.07) a share.

The company's overall institutional portion was 16 times oversubscribed, the Star newspaper said on Monday. -- AFP