<article><h3>Malakoff IPO offers 30% to cornerstone, looks set for May listing</h3>
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<h3>Malakoff IPO offers 30% to cornerstone, looks set for May listing</h3>
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<a href="http://www.malakoff.com.my/" target="_blank">Malakoff Corp Bhd</a> is offering its cornerstone investors, including domestic state funds,  about 30 per cent of its $740 million initial public offering (IPO), according to sources in the know.
Malakoff, Malaysia’s largest independent power producer owned by construction concern <a href="http://www.mmc.com.my/" target="_blank">MMC Corp Bhd</a>, is targeting to list in May, the source told Reuters.
This listing could be the largest since the $1.5 billion listing of pay TV firm <a href="http://www.astromalaysia.com.my/" target="_blank">Astro Malaysia Holdings Bhd</a> in 2012, and could give the Malaysian IPO market a boost after its tepid performance last year.
Reuters <a href="http://www.reuters.com/article/2015/03/17/malaysia-malakoff-corp-ipo-idUSL3N0WJ3LG20150317" target="_blank">reported</a> that the addition of cornerstone investors could smoothen the path for the long-delayed IPO, which is navigating tricky domestic markets as slumping global energy prices hit revenues of the oil exporter and have knocked the ringgit to a six-year low.
“They are finalising sizing (for the cornerstone investors tranche),” the source said.
MMC will hold a shareholder meeting on March 30 to approve the listing, after which, the bankers are expected to start pre-deal investor education in the first week of April, and then open books in mid-April.
The cornerstone investors allow the underwriters to show potential institutional investors that the deal already has solid financial backing. In return, cornerstones receive preferential shares ahead of the IPO, but are required to hold the stock under a moratorium.
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<h3>AirAsia boss ponders IPO in PH, Indonesia</h3>
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Malaysias budget carrier <a href="http://www.airasia.com/my/en/home.page?cid=1" target="_blank">AirAsia Bhd</a>’s CEO Tony Fernandes has implied that the group could list at the Philippine Stock Exchange (PSE) and in Indonesia.
Fernandes said in a Tweet on Tuesday that AirAsia sales have been &#8220;great&#8221; in the Philippines and Indonesia, and he may consider an IPO in both countries.
&#8220;Great sales in Indonesia and Philippines. May reconsider IPO in both countries. Thailand and Malaysia since advertising having record sales,&#8221; he said.
Filipino news portal ABS CBN News <a href="http://rp1.abs-cbnnews.com/business/03/18/15/airasia-may-do-ipo-ph-2016" target="_blank">reported</a> that AirAsia’s Philippines unit was recently in a discussion about a local IPO.
CEO Joy Caneba said the group discussed a local IPO as recently as two weeks ago and said: “we feel that with the improvement on performance we can now consider an IPO for Philippines AirAsia”.
Caneba said if things go according to plan, it will likely happen next year.
The Malaysia-listed AirAsia has also considered listing in Thailand.
In another Tweet, Fernandes said he expects low fuel prices to boost operations this year. The low cost airline is the largest budget carrier in the region.
Also read:
<a style="color: #ff0000;" title="PH roundup: Pure Foods, AirAsia" href="http://www.dealstreetasia.com/stories/ph-roundup-pure-foods-airasia-3564/" rel="bookmark">PH roundup: Pure Foods, AirAsia</a>
<a style="color: #ff0000;" title="VietJet Air expects to raise $800m from IPO" href="http://www.dealstreetasia.com/stories/vietjet-air-expects-raise-80m-ipo-2149/" rel="bookmark">VietJet Air expects to raise $800m from IPO</a>
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Malakoff Corp Bhd offering cornerstone investors, including domestic state funds,  about 30% of $740 million IPO, according to sources in the know.

Malaysia IPO dealbook: Malakoff courts cornerstone investors, AirAsia keen on PH & IND

Malakoff IPO offers 30% to cornerstone, looks set for May listing

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Malaysia IPO dealbook: Malakoff courts cornerstone investors, AirAsia keen on PH & IND

Malakoff IPO offers 30% to cornerstone, looks set for May listing

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