MMC Port said to be weighing mega Malaysia IPO valued at up to RM7 billion

It runs seven ports along the Strait of Malacca, one of the world’s busiest shipping lanes

MMC Port Holdings has been considering an initial public offering (IPO) in Kuala Lumpur that could raise as much as RM7 billion (S$2.1 billion), sources said, which would make it the biggest in Malaysia in more than a decade.

The port operator, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary, is working with financial advisers on plans for a first-time share sale that may take place as soon as the second half of 2025, they added, asking not to be identified as the process is private.

MMC could be valued at RM24 billion to RM27 billion, the sources noted.

Deliberations are ongoing and details such as size, value and timing could change. MMC Port did not respond to requests for comment.

The company, part of MMC Corporation, runs seven ports along the Strait of Malacca, one of the world’s busiest shipping lanes.

It is also the biggest such operator in the nation and operates three cruise terminals, its website showed.

Petronas Chemicals Group raised nearly RM15 billion in a Malaysia IPO in 2010, while FGV Holdings and Maxis both raised more than RM10 billion in 2012 and 2009, respectively, indicated Bloomberg data.

Sunway Group is also considering listing its healthcare unit in Kuala Lumpur next year, and South Korea’s OCI Holdings is exploring one for its local polysilicon unit, Bloomberg News has reported.

MMC had looked into listing the port unit in 2018 and 2020. Global Infrastructure Partners had also been exploring an acquisition of up to 49 per cent of the port operator, but shelved the plan earlier this year on valuation concerns. BLOOMBERG