Petronas IPO to raise $4.2bn at $1.69 a share

first_img Share KCS-content whatsapp Wednesday 13 October 2010 7:19 pm Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryNoteabley25 Funny Notes Written By StrangersNoteableyTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Timescenter_img whatsapp Petronas IPO to raise $4.2bn at $1.69 a share Malaysia’s Petronas Chemicals is likely to raise $4.2bn (£2.6bn) in Southeast Asia’s biggest ever IPO after setting an indicative price range for the float, analysts said.The unit of Malaysian state oil giant Petronas indicated at a briefing it is likely to price its IPO at 5.05 ringgit for retail investors and 5.20 ringgit ($1.69) for institutions, analysts said. However, a spokesman said the price range for the IPO has not been set.“A price range has not yet been determined and the information will be distributed through the proper channels when it has been set,” the spokesman said, adding the process was still very much in “its early days”.The IPO comes as Asian capital markets are seeing a flurry of multi-billion deals, helped by a flood of liquidity, low interest rates and strong economic growth. Petronas Chemicals’ IPO is set to exceed Maxis’ $3.3bn IPO last year and also raise more capital than the proposed listing of another Petronas-linked vehicle, Malaysia Marine and Heavy Engineering. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULLlast_img read more

Times digital sales may be £6m a year

first_img Share Show Comments ▼ Tuesday 2 November 2010 9:24 pm whatsapp THE Times newspaper yesterday announced it has taken 105,000 “digital sales” of its newspaper since it erected a controversial paywall in July.The number includes a series of heavily discounted “early adopter” offers and day passes, as well as iPad and monthly subscription sales.A further 100,000 existing subscribers to the print edition of the Times newspaper have activated their free digital account, taking its total digital readership to over 200,000.The numbers released did not break down how often or for how long users stayed on the site. It also failed to flag up individual users who bought multiple day passes or subscription options.Sources close to the firm said around 50,000 of users pay for either a monthly subscription at £8.66 a month or a subscription to the iPad application at £9.99 a month.This would generate revenue for digital services, including the minimal amount taken in through casual users, at around £6m a year.There are no figures for how many trialists subsequently bought a subscription to the site but the source said the “vast majority” renew subscriptions, adding the firm is “very happy” with its conversion rate of casual users.However, News International, the Times’ parent company, declined to comment on the level of churn the digital edition has experienced.Analysts have suggested the drop in advertising revenue could be as much as £10m. However, sources close to News International argue this may be partially offset by higher rates charged for more detailed data on its users. Rates and bookings are also likely to pick up as advertisers get a clearer picture of subscriber numbers.Before the paywall went up Times Online had a monthly unique readership of around 20m.Numis analyst Lorna Tilbian said she was “very encouraged” by the figures. She said: “This is good news for News International. The sales are being driven by high margin iPad users and I expect the trend to continue. It won’t be long before other papers follow suit – where Murdoch goes others soon follow.”News Corp chief executive James Murdoch said he is “excited by the progress we have made in a short space of time.”The Times is the first mainstream UK newspaper to adopt a paywall for its website. The Financial Times and Wall Street Journal both operate profitable paywalls.The FT last week reported its digital digital subscriptions had increased 50 per cent year-on-year to more than 180,00. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com KCS-content center_img whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was Famous, Now She Works In {State}MoneyPailMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.com Times digital sales may be £6m a year Tags: NULLlast_img read more