LFX Market Capitalisation Breaches US$10bn Mark
Market capitalization on the Labuan International Financial Exchange has surpassed
the US$10 billion mark after the recent listing of the US$415.5 million exchangeable
notes issue by Ferringghi Capital Ltd. The listing by the Labuan-based firm, a wholly owned subsidiary of Khazanah
Nasional Berhad, the Malaysian government investment holding arm, has been described
as the largest equity-linked security issued by any entity in Malaysia in recent
years. “Khazanah's primary listing on LFX reflects the Malaysian Government's
support of the offshore exchange,” stated LFX chairman and Chief Executive
Officer of Bursa Malaysia Berhad, Yusli Mohamed Yusoff. “This augurs well as LFX is into its second phase, seeking more Malaysian
corporations to make primary listings on the exchange,” he added. An application has been made to also list the notes on the Hong Kong Stock
Exchange. A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
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