You are here

Brunei's largest bank aims to raise up to US$500m in Malaysian listing: IFR

Tuesday, June 13, 2017 - 16:05

[KUALA LUMPUR] Brunei's largest lender, Bank Islam Brunei Darussalam, aims to raise as much as US$500 million in an IPO - the first by a firm from the South-east Asian nation although the bank will be listed on the Malaysian bourse, IFR reported.

JPMorgan and Malayan Banking Bhd (Maybank) are set to be joint global coordinators for an initial public offering of US$200 million-US$500 million this year, said IFR, a Thomson Reuters publication. A bookrunner is also likely to be added, it said.

A banking source told Reuters the IPO is expected to raise around US$300 million but the final amount will depend on the size of the greenshoe option.

Bank Islam did not immediately reply to a Reuters request for comment. Representatives for JPMorgan and Maybank were not immediately available for comment.

sentifi.com

Market voices on:

The bank was formed through the merger of Islamic Bank of Brunei and Islamic Development Bank of Brunei in 2005. It counts the federal Ministry of Finance, Sultan Haji Hassanal Bolkiah Foundation and Fajr Capital as its shareholders.

Brunei, one of the world's richest countries on a per capital basis, does not have a stock exchange although its central bank last year announced draft rules to form one, IFR said.

REUTERS

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom