Two big-sized IPOs in the pipeline, says RHB Bank

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KUALA LUMPUR (April 24): RHB Bank Bhd said the group has two big-sized initial public offerings (IPOs) in its pipeline.

"We expect a few IPOs, including the one (which will launch its prospectus) tomorrow. (We are their joint global coordinator), and we still have other two or three reasonably big ones (in the pipeline)," RHB group managing director Datuk Khairussaleh Ramli told the press after its annual general meeting here today.

Khairussaleh said the two IPOs, which are slated to be listed by the second half of this year, are estimated to be about RM750 million each, adding that companies are from the consumer products and trading services sectors respectively.

RHB Bank shares rose five sen or 0.87%, giving the group a market capitalisation of RM23.06 billion. The counter saw some 1.72 million shares exchanging hands.