Icon’s IPO nears

Kuala Lumpur: Malaysia's Icon Offshore will raise somewhere between RM919m to RM945m ($285.2m to $293.3m) from its listing after setting the price range at RM1.80 to RM1.85 per share yesterday.

Icon, part of Malaysian government-linked private-equity fund Ekuiti Nasional (Ekuinas), plans to add to its fleet of 32 ships and repay debt using funds raised through the initial public offering (IPO).

According to Icon’s draft prospectus, the plan is to sell up to 510.6m shares.

BNP Paribas, Credit Suisse and Maybank Investment Bank are joint global co-ordinators for Icon's IPO.  [30/05/14]

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