Pay-TV firm Astro Malaysia has set an indicative price range of RM2.70-3.00 per share for institutional investors for its initial public offering (IPO) that could raise up to RM4.56 billion (approx €1.1bn) according to reports.

The IPO, which is expected to be listed by end-September or early October, would be Malaysia’s third-largest this year after share sales by Felda Global Ventures Holdings Bhd in June and IHH Healthcare Bhd in July.

Astro is controlled by Malaysia’s second-richest man Ananda Krishnan, who has investments in telecom and energy assets. The deal is being handled by CIMB, Maybank and RHB, while several foreign banks are also advisers including UBS, Credit Suisse, Goldman Sachs and JPMorgan.

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