Westports Malaysia eyes IPO

Port Klang owner, Westports Malaysia is said to be looking to capitalise on investor interest in ports with an initial public offering.

At the end of August, the company reportedly began inviting bankers to advise it on an IPO to raise around $1bn, however there has been no confirmation from the company as yet.

Hutchison Port Holdings has a 31.5% stake in Port Klang, Malaysia’s busiest port.

Westports is expected to handle 7m teu this year compared with 6.4m teu in 2011.

It has been recording a steady 20% growth in teu over the last five years.

7-9 October

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