Malaysia's Malakoff IPO institutional offer oversubscribed more than 2 times -sources

April 17, 2015 4:11 AM

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KUALA LUMPUR, April 17 (Reuters) - Institutional investors bought into Malaysia's biggest listing in nearly three years, oversubscribing an initial public offering by Malakoff Corporation Bhd worth up to $756 million by more than two times, according to three people with direct knowledge of the matter.

Bookbuilding for the institutional tranche of the IPO by Malaysia's largest independent power producer - equal to more than 25 percent of the total offering - was set in a tight range between 1.75 ringgit and 1.80 ringgit per share, sources had said.

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