Westports Advances in $644 Million Kuala Lumpur IPO Debut
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Westports Holdings Bhd., part-owned by billionaire Li Ka-Shing’s Hutchison Port Holdings, surged on its Kuala Lumpur debut after completing Malaysia’s second-largest share sale this year.
Shares of the terminal operator gained 6 percent to close at 2.65 ringgit. The stock was the most active on the Kuala Lumpur bourse with 202.6 million shares traded. The company priced its shares for institutions at 2.50 ringgit each, the top end of its marketed range.