Westports to launch bookbuilding for $625 mln IPO Thursday-sources

Reuters

KUALA LUMPUR, Sept 18 (Reuters) - Westports Holdings Bhd,operator of Malaysia's busiest port, is expected to launch onThursday the bookbuilding for its 2.03 billion ringgit ($625million) initial public offering in Malaysia, according tosources with knowledge of the deal.

The offer to institutional investors is expected to range atan indicative price of 2.30 ringgit to 2.50 ringgit per share,the sources added.

The listing would be Malaysia's second largest this yearafter the planned 2.4 billion ringgit initial share sale by UMWOil & Gas Bhd expected some time in the fourthquarter.

Westports, which counts state investor Khazanah Nasional and Hong Kong's Hutchison Port Holdings asshareholders, could not be reached immediately for comment.

($1 = 3.2500 Malaysian ringgit) (Reporting By Yantoultra Ngui; Editing by Chris Gallagher)

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