Toll concessionaire Prolintas is all set for an preliminary public providing (IPO) on the primary market of Bursa Malaysia, and the milestone is predicted to occur in Q1 2024.
Prolintas Managers Sdn Bhd (the trustee-manager), the trustee-manager of Prolintas Infra Enterprise Belief (Prolintas Infra BT), which is Malaysia’s first freeway enterprise belief to be listed, and the promoter of Prolintas Infra BT (Prolintas) lately signed an underwriting settlement with AmInvestment Financial institution, CIMB Funding Financial institution, Maybank Funding Financial institution and RHB Funding Financial institution because the joint underwriters for the IPO train.
The IPO might be completed by way of a enterprise belief construction comprising 4 highways which were acquired from Prolintas by the trustee-manager (on behalf of Prolintas Infra BT), specifically the Ampang-Kuala Lumpur Elevated Freeway (AKLEH), Guthrie Hall Expressway (GCE), Lebuhraya Kemuning-Shah Alam (LKSA) and Sistem Lingkaran Lebuhraya Kajang (SILK).
Prolintas Infra BT’s IPO entails the supply on the market by Prolintas of 539,000,000 current models in Prolintas Infra BT, representing 49% of the whole models in situation. The joint underwriters have agreed to underwrite the retail providing of 45,751,000 of IPO models in Prolintas Infra BT, representing 4.16% of the whole models in situation.
Of the retail portion, 18,251,000 models might be allotted to the administrators and senior administration of the trustee-manager, eligible staff and individuals who’ve contributed to the success of the belief group. 27,500,000 models might be provided to the Malaysian public by way of balloting.
“The signing of the underwriting settlement symbolises a major milestone for Prolintas. This momentous itemizing train supplies us an avenue to unlock the worth of our property and on the similar time, this enterprise belief itemizing construction permits us to offer our unitholders sustainable returns in the long term as our property have the requisite earnings visibility given their concession-based nature,” stated Prolintas group CEO Datuk Mohammad Azlan Abdullah.
Seeking to promote your automotive? Promote it with myTukar.
