The size of the proposed IPO (initial public offering) has not been revealed, but market speculation puts its worth at almost $1 billion.
“As our Company will not be issuing any new shares under our IPO, we will not receive any proceeds from the IPO. Our Board is of the view that our Group presently does not require additional funding for our business,” said Westports Holdings, which is controlled by industrialist G. Gnanalingam.
Westports explained that the IPO aims at enhancing the company’s profile to market its services, establishing liquidity for its shares, and providing an opportunity for the investing public, including its employees, to participate in the continuing growth of the company through equity participation.
The initial public offering of up to 813.19 million shares is cialis samples in canada in conjunction with the usefull link listing of and quotation for the entire 3.4 billion shares on the main market of order cheapest viagra online Bursa Malaysia Securities (Malaysian stock exchange), Westports Holdings said.
Maybank Investment Bank is the principal advisor for the IPO while Credit Suisse (Singapore) and Goldman Sachs (Singapore) are the joint global coordinators.
Port Klang is Malaysia’s biggest container port and a key transshipment hub in the Strait of Malacca. It is also the major gateway for import-export cargo of Peninsular Malaysia. With almost 7M TEUs and 10M tonnes of bulk cargo handled in 2012, Westports is the main operator at Klang.
Westports is in the process of a major expansion of container handling facilities that will increase its annual capacity from a current 9.5M TEUs to 11M TEUs in 2015.
Two more terminals are planned to eventually raise the capacity of Westports to 16M TEUs per annum. The time frame, however, has not been revealed.