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