<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 10): Malaysia Airports Holdings Bhd (MAHB) has proposed a 1-for-5 rights issue to raise RM1.32 billion to fund the acquisition of the remaining 40% stake in Turkish airport ventures, İstanbul Sabiha Gökçen Uluslararasi Havalimani Yatirim Yapim Ve İşletme A.Ş. (ISG) and LGM Havalimani İşletmeleri Ticaret Ve Turizm A.Ş. (LGM).<br />
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In a filing with Bursa Malaysia today, MAHB said the purchase consideration for the stake in Istanbul Sabiha Gokcen airport is 285 million euros (RM1.18 billion).<br />
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MAHB said the balance of the proceeds – about RM80 million will serve as general working capital and the remaining RM60.9 million will be used for estimated fees and expenses for the corporate exercise.<br />
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The airport operator expects the rights issue to be completed in the first quarter of 2015.<br />
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MAHB shares closed unchanged at RM7.08 today, with 663,100 shares changing hands, giving it a market capitalisation of RM9.73 billion.<br />
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KUALA LUMPUR (Nov 10): Malaysia Airports Holdings Bhd (MAHB) has proposed a 1-for-5 rights issue to raise RM1.32 billion to fund the acquisition of the remaining 40% stake in Turkish airport ventures, İstanbul Sabiha Gökçen Uluslararasi Havalimani Yatirim Yapim Ve İşletme A.Ş. (ISG) and LGM Haval...

MAHB plans RM1.32b rights issue to buy rest of Turkish airport

Mergers and acquisitions (M&A) activities fell to the lowest in a decade in 2023. According to the “Global M&A Report” published by Bain & Co, the total M&A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

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