Axiata Group Bhd, Malaysia's largest mobile phone operator, has revealed plans of an initial public offering of its USD500 million telecommunication tower assets. Sources familiar with the deal said that the IPO is expected to happen in the latter part of 2014, with companies such as CIMB Group Holdings Bhd and Goldman Sachs Group Inc participating. The proposed IPO was an addition to the offerings expected from Malaysia next year, including a USD1 billion listing of Malakoff Bhd and a USD800 million IPO of Medini Iskandar Malaysia Sdn Bhd.
Sources declined to be identified due to the confidential nature of the deal. Axiata officials were also not immediately available for comment.
Aside from Japan, the biggest IPO market in the Asia-Pacific last year was Malaysia. Two of the world's largest listings were hosted from Malaysia. Felda Global Ventures Holdings Bhd launched a USD3.2 billion IPO and IHH Healthcare Bhd had a USD2.1 billion IPO.
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