HONG KONG/SINGAPORE (March 14): Container-vessel company MTT Shipping Sdn Bhd has revived plans for an initial public offering (IPO) in Malaysia, that could raise as much as US$200 million (RM888.95 million), according to people familiar with the matter. 

The company, which began operating in 2010, is working with advisers to list its shares in Kuala Lumpur late this year, or in 2026, at a targeted valuation of RM4 billion (US$900 million), the people said, asking not to be identified because they weren’t authorised to speak publicly. 

Deliberations are ongoing, and the size and timing of the deal may change, the people added. MTT declined to comment.

MTT has been mulling an IPO as far back as 2019, when people familiar with the matter said that the company was weighing a RM250 million offering. But the deal never materialised, as the Covid-19 pandemic erupted and the country’s benchmark index tumbled to its lowest level since 2009. 

Malaysia was among the bright spots for stock deals in Southeast Asia last year, with IPOs raising US$1.6 billion, the highest proceeds since 2017, according to data compiled by Bloomberg. Some of Malaysia’s biggest offerings expected this year include MMC Port Holdings Sdn Bhd, and Sunway Healthcare Group.

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