Malaysia's MOL Global prices U.S. IPO low after slashing deal size - source

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HONG KONG (Oct 9): Online payment company MOL Global Inc priced its U.S. IPO at the bottom of expectations to raise $169 million after slashing the number of shares offered, a source with direct knowledge of the deal said on Thursday.

The first U.S. IPO of a Malaysian company was priced at $12.50 per share, the bottom of a $12.50 to $14.50 marketing range, said the source. The source declined to be identified as details of the deal have not yet been announced.

The company is majority-owned by Malaysian billionaire Vincent Tan.

The IPO consisted of 13.5 million American Depositary shares, less than the 19.5 million originally planned.