Advertisement
Singapore markets close in 6 hours 28 minutes

  • Straits Times Index

    3,290.27
    +2.52 (+0.08%)
     

  • Nikkei

    37,808.35
    +179.87 (+0.48%)
     

  • Hang Seng

    17,568.97
    +284.43 (+1.65%)
     

  • FTSE 100

    8,078.86
    +38.48 (+0.48%)
     

  • Bitcoin USD

    64,432.68
    +152.46 (+0.24%)
     

  • CMC Crypto 200

    1,393.18
    +10.61 (+0.77%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • Dow

    38,085.80
    -375.12 (-0.98%)
     

  • Nasdaq

    15,611.76
    -100.99 (-0.64%)
     

  • Gold

    2,347.30
    +4.80 (+0.20%)
     

  • Crude Oil

    83.85
    +0.28 (+0.34%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • FTSE Bursa Malaysia

    1,573.05
    +3.80 (+0.24%)
     

  • Jakarta Composite Index

    7,119.89
    -35.40 (-0.49%)
     

  • PSE Index

    6,570.02
    -4.86 (-0.07%)
     

Weststar hires 3 banks for $500 mln Malaysian IPO in 2015-IFR

Reuters

KUALA LUMPUR, Oct 16 (Reuters) - Malaysian helicopter operator Weststar Aviation Services, partly owned by U.S. private equity firm KKR, has hired JP Morgan, Maybank and UBS to manage its up to $500 million listing, IFR reported on Thursday.

The 2015 initial public offering comes a year after KKR bought a stake in Weststar, in the private equity firm's first deal in Malaysia.

Controlled by Malaysian tycoon Syed Azman Syed Ibrahim, Weststar is the largest provider of chartered helicopters to oil and gas companies in Southeast Asia. It has a fleet of 45 helicopters.

The company previously said it was looking to list in the first quarter of next year after KKR bought a "substantial minority" stake in the company for 642 million ringgit ($196 million).

Weststar officials were not immediately available for comment. (1 US dollar = 3.2735 Malaysian ringgit) (Reporting by Reporting by S. Anuradha of IFR; Writing by Yantoultra Ngui and Anuradha Raghu; Editing by Ryan Woo)