Port Klang's Westports terminal operator Westports Malaysia Sdn Bhd, is reportedly planning an initial public offering (IPO) to raise as much as $1bn (RM3.13bn) by as early as next year, Seatrade Asia online reports.
Local media quoted a senior Westports official as saying that the listing was currently in the planning stage and had not been sent to the board yet.
Hong Kong’s Hutchison Whampoa owns some 30% of Westports, which it bought into in 2000. Other major stakeholders include Malaysian sovereign wealth fund Khazanah Nasional, with an 8.5% stake. The main driver is Westports chairman G Gnanalingam, who won the bid to operate the terminal in 1994. Westports has a concession to operate the port till 2054.
Growth at the mainly transshipment port has been good with throughput rising to 6.4m teus last year.
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