MYR 910 Million IPO of Orkim Berhad on the Main Market of Bursa Malaysia

Christopher & Lee Ong, member firm of Rajah & Tann Asia, acted as underwriters’ counsels for CIMB Investment Bank Berhad, RHB Investment Bank Berhad and Affin Hwang Investment Bank Berhad in relation to the IPO of Orkim Berhad (“Orkim”) on the Main Market of Bursa Malaysia. Orkim is the owner-operator of 18 vessels, it owns and operates the largest fleet of clean petroleum tankers in Malaysia. The IPO involved an issuance of new shares by Orkim and an offer for sale by Tetap Kuasa Sdn Bhd, the investment vehicle of Ekuiti Nasional Berhad (Ekuinas). Orkim has achieved a market capitalisation of approximately MYR 910 million upon listing. Partners Justin Chua and Vivian Lim from the Capital Markets practice led the transaction.