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Astro IPO Raises $1.5 Billion in Robust Malaysian Market

Astro Malaysia Holdings Bhd., the country’s largest pay-TV broadcaster, and shareholders including billionaire T. Ananda Krishnan raised 4.6 billion ringgit ($1.5 billion) in an initial public offering.

The company sold shares in Kuala Lumpur at 3 ringgit apiece, top of the marketed range, valuing it at $5.1 billion. Institutional demand was for more than 30 times the number of shares offered, the broadcaster said in an e-mailed statement.