Maxis raises $3.3b in SEA's biggest IPO


Maxis raises $3.3b in SEA's biggest IPO

Dylan Bushell-Embling  |   December 14, 2009
Telecom Asia
Magazine Issue Name: 
TA Dec 2009
Magazine Issue Date: 

Malaysia's Maxis re-entered public trading last month with an 11.2 billion ringgit ($3.3 billion) IPO.

The successful listing has given the Malaysian mobile operator a market capitalization of up to 42.5 billion ringgit.

The funds will help it expand into the Indian market, where it is prepared to invest up to $6 billion, reported. It is also planning to tip more funds into the domestic fixed-line broadband. 

The offering - southeast Asia's biggest ever IPO - came two years after the company was taken private by Ananda Krishnan's Binariang group.

Around 90% of the shares were offered to institutional investors for five ringgit per share. The remaining 10% were sold at retail for $4.75.

Maxis sold 30% of its existing share capital to raise the $3.3 billion, which represents a price to earnings multiple of 16 times based on FY09 figures. Only Maxis' domestic operations were included in the offering. Its Indian and Indonesian units  remain under the control of unlisted parent Maxis Communications.
Maxis, meanwhile, announced its Q3 profit grew 28.1% to 615 million ringgit. CEO Sandip Das attributed the result to healthy subscriber growth - Maxis boosted its mobile subscribers 3% to 11.7 million during the quarter, seeing particular growth in wireless broadband.

"Our investment to modernize our 3G network over the last few quarters is beginning to pay off," he told shareholders. "By the end of this year, we will be well on course toward accomplishing our plans to have a full HSPA 3G network."

Dylan Bushell-Embling

Tell Us What You Think

Add comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd> <a> <p> <span> <div> <h1> <h2> <h3> <h4> <h5> <h6> <img> <img /> <map> <area> <hr> <br> <br /> <ul> <ol> <li> <dl> <dt> <dd> <table> <tr> <td> <em> <b> <u> <i> <strong> <font> <del> <ins> <sub> <sup> <quote> <blockquote> <pre> <address> <code> <cite> <embed> <object> <strike> <caption>
  • Lines and paragraphs break automatically.
  • Use <!--pagebreak--> to create page breaks.

More information about formatting options

Video from Telecom Channel

Spectrum auctions earn big bucks
India's 3G spectrum auction nets $14.6B, but who benefits? Thailand sets a date for its 3G spectrum auction, again, but nobody is holding their breath. And what is Skype up to?  


Nicole McCormick
Just one operator to fly the Wimax flag
Robert Clark
China gets in an early shot
Esteban Monturus/Maravedis
'M' is for microwave
Adam Leach/Ovum
But Android's appeal is growing
John C. Tanner
Aims to tackle OS fragmentation with widgets and Web apps. It won't work
Keith Willets, TM Forum
CSPs risk losing out on potential business unless they adapt to today's world of new services


Cliff Edwards and Peter Burrows
Samsung and other makers revamp devices after the iPad's debut
Bruce Brda, Motorola
Wimax and LTE will co-exist and complement one another within markets

MWC2010 List

HTC guns for top 3 smartphone makers
Powermat wants to charge your desktop
Femtos outlook improves as cellcos seek offload options
Cheaper smartphones key to broadband takeup

Frontpage Content by Category

Industry experts put their heads together and stick their necks out to call the big trends for 2010


Staff Writer
To survive the next ten years in the free internet world
Staff writer
Lim Chuan Poh will vacate his position by year-end