Malaysian Billionaire Syed Mokhtar AlBukhary's MMC Ports Gets IPO Approval [Forbes]
A.P MOLLER-MRS UNS/ADR (AMKBY)
NASDAQ:AMEX Investor Relations:
investor.maersk.com/investor-relations
Company Research
Source: Forbes
The company will offer up to 4.2 billion held by existing shareholders, equivalent to a 30% stake, according to its preliminary IPO prospectus . Bulk of the shares will be offered to institutional investors. While the company hasn't disclosed the pricing and timeline for the IPO, Bloomberg reported in June that MMC Ports will raise about $2 billion from the maiden share sale that will value the company at $7 billion. It could be the country's biggest IPO in more than a decade. After the IPO, MMC Corp will keep a 70% stake. Since no new shares will be issued, the company will not receive any proceeds from the offering. MMC said it does not need additional equity funding to grow its business. Port of Tanjong Pelepas—which is run by a joint venture between MMC Ports and Netherlands-based APM Terminals (part of shipping giant A.P. Moller-Maersk)—handled record cargo container throughput of more than 12 million twenty-foot equivalent units (TEUs) in 2024, accounting for about 65% of
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