Monday, 22 July 2013

Windfall for Westports shareholders

Shareholders of the soon-to-be-listed Westports Holdings could pocket at least a whopping RM1.46bn as they cash in on their stakes in the company. Tan Sri G Gnanalingam and family, Hong Kong tycoon, Li Ka-shing, Khazanah Nasional will collectively sell 813.2m shares or 23.8% stake in the port operator under an IPO exercise, according to its draft prospectus. 
  • The IPO will probably value the company at over RM6bn or RM1.80 per share based on a conservative P/E multiple of 15x and historical FY12 EPS of 11.8 sen. (Focus Malaysia)

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