MAHB shares rise amid report of Turkish Airlines' bid for ISGA

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KUALA LUMPUR (Aug 10): Malaysia Airports Holdings Bhd's (MAHB) stock rose as much as 3.5% today, emerging as one of the top three gainers on Bursa Malaysia.

The stock hit an intraday high of RM9.92 in early trade. At 3.44pm, the stock was still up 33 sen or 3.44% at RM9.91, with 2.85 million shares done. Its market capitalisation stood at RM16.43 billion.

Earlier today, Bloomberg reported that Turkish Airlines was bidding to buy an 80% stake in Istanbul Sabiha Gokcen International Airport (ISGA) in Turkey, which is wholly-owned by MAHB.

The report, citing people with knowledge of the matter, said Turkish Airlines offered 750 million euros for the stake.

Former MAHB managing director Datuk Mohd Badlisham Ghazali was previously reported as saying that the airport operator was open to bringing in partners to participate in ISGA that could add value to the Turkish airport but stressed that MAHB would maintain a majority stake in the airport.

However, following his retirement from MAHB on June 22, the group is said to be keen on disposing of a larger interest.