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  3. LFX Market Capitalisation Breaches US$10bn Mark

LFX Market Capitalisation Breaches US$10bn Mark

by Phillip Morton, Investors Offshore.com

30 December 2004


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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