Axiata Group plans tower assets IPO

Malaysian company Axiata Group is planning an IPO of its tower assets, estimated to be worth up to $500 million.

 The proposed IPO is expected late next year, and it is reported that CIMB Group Holdings and Goldman Sachs are involved in the offer.

Tower companies trade up to 10 times of their earnings before interests, taxes, depreciation and amortisation, while telecoms companies trade at six times that value.

Excluding Japan, Malaysia was the biggest IPO market in the Asia-Pacific region last year, and it is expected the country will see a list of offerings in 2014.