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MMC Port Holdings has postponed its IPO to next year to include full-year 2025 financial results. Originally planned for late 2025, the offering was expected to raise over USD 1.5 billion, making it Malaysia's largest IPO since 2012. The delay is aimed at providing more comprehensive financial disclosures and reflecting recent operational developments, though investor interest remains strong. The IPO involves the sale of 4.3 billion existing shares by MMC Corp, which will retain a 70% stake. MMC Port operates five major ports, three cruise terminals, and other shipping facilities, reporting a net profit of 636.6 million ringgit in 2024.
Malaysia's MMC Port Holdings has decided to delay its planned initial public offering to next year so that it can include its full-year 2025 financial results, according to sources familiar with the matter. The IPO, initially scheduled for the fourth quarter of 2025, was expected to raise over USD 1.5 billion, which would have made it the largest public offering in Malaysia since IHH Healthcare's USD 2.1 billion debut in 2012, providing a potential boost to the domestic capital market. Advertisement
The company is reviewing the timing of the listing to allow for more detailed financial disclosures and to reflect recent developments in the industry and its own operations. Despite the delay, investor interest in the offering remains strong. Sources indicated that a revised timeline for the IPO will be communicated in due course. MMC Port did not immediately respond to requests for comment.
Regulatory approval for the listing on Bursa Malaysia was granted to MMC Port in September. The IPO will involve an offer for sale of up to 4.3 billion existing shares, which is roughly 30% of its total issued share capital of about 14.2 billion shares, held entirely by its sole shareholder MMC Corp. No new shares will be issued, meaning the company itself will not receive proceeds from the offering. MMC Corp, taken private in 2021 by Malaysian businessman Syed Mokhtar Al-Bukhary, will retain a 70% stake after the listing.
MMC Port is the largest port operator in Malaysia, managing five ports along the strategic Strait of Malacca and three cruise terminals. It also operates a product jetty terminal and provides ship-to-ship transfer services. According to its draft prospectus, the company reported a net profit of 636.6 million ringgit (USD 151.10 million) on revenue of 4.36 billion ringgit in 2024, highlighting steady financial performance ahead of its planned market debut.
Source Reuters
5th Jun, 2025
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