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Astro Malaysia Holdings Berhad to become a public company

The prospectus for the listing of the satellite pay – TV service  was officially launched today with an indicative price range of US$1.5 billion for its listing on the Malaysian stock exchange “Bursa Malaysia”.  

Astro was established in 1996 and now has 3.1 million subscribers reaching 50% of the households in Malaysia. Through its 156 radio and TV channels the company carry, local regional and international content in multiple languages to serve all ethnic groups in Malaysia. 

The Astro Initial Public Offering, which could be the country’s third-biggest this year,  is expected to be listed by end of September or early October. 

Astro is controlled by Malaysia’s second-richest man Mr. Ananda Krishnan, who owns telecom and energy companies.  He is relisting Astro after it was privatised in 2010.

At the launch of the prospectus for the listing the Malaysian Prime Minister Datuk Sri Mohd Najib Tun Haji Abdul Razak said that this is a benchmark not only for Astro but  for the new media business to follow the same ambitious growth model.