KUALA LUMPUR, June 13 Brunei's largest lender,
Bank Islam Brunei Darussalam, aims to raise as much as $500
million in an IPO - the first by a firm from the Southeast Asian
nation although the bank will be listed on the Malaysian bourse,
JPMorgan and Malayan Banking Bhd (Maybank)
are set to be joint global coordinators for an initial public
offering of $200 million–$500 million this year, said IFR, a
Thomson Reuters publication. A bookrunner is also likely to be
added, it said.
A banking source told Reuters the IPO is expected to raise
around $300 million but the final amount will depend on the size
of the greenshoe option.
Bank Islam did not immediately reply to a Reuters request
for comment. Representatives for JPMorgan and Maybank were not
immediately available for comment.
The bank was formed through the merger of Islamic Bank of
Brunei and Islamic Development Bank of Brunei in 2005. It counts
the federal Ministry of Finance, Sultan Haji Hassanal Bolkiah
Foundation and Fajr Capital as its shareholders.
Brunei, one of the world's richest countries on a per
capital basis, does not have a stock exchange although its
central bank last year announced draft rules to form one, IFR
(Reporting by S. Anuradha of IFR; Additional reporting by Liz
Lee; Editing by Edwina Gibbs)