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Thursday, July 26, 2012

Tycoon Ananda selling Maxis stake: Source


(Reuters) – Malaysian tycoon Ananda Krishnan is selling up to 375 million shares worth around RM2.35 billion in the country’s largest mobile phone operator Maxis Bhd, according to a source familiar with the deal.
The shares are being priced at a range between RM6.21 and RM6.34 per share, the source said, representing a 3 to 5 per cent discount to the closing price of RM6.54 today.
Officials at Maxis were not immediately available for comment.
Ananda, Malaysia’s second-richest man, has been selling some of his assets. The deal follows a US$2.8 billion (RM8.89 billion) sale of his power assets, a proposal to hive off a stake in his satellite operator MEASAT Global in March and the sale of a minor stake in offshore oilfield services firm Bumi Armada Bhd in April.
Ananda also plans to re-list its pay-TV firm Astro All Asia Networks by end-September in a deal that could fetch around US$1.5 billion.
Malaysia recently sealed its status as Asia’s top initial public offering destination this year following the listing of state-backed hospital operator IHH Healthcare Bhd yesterday, the third biggest flotation so far in 2012 after Facebook Inc and Felda Global Ventures Holdings Bhd.
CIMB and Credit Suisse are the joint bookrunner on the Maxis share sale, the source added.

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