Investing.com -- MMC Port Holdings plans to start soliciting global investors next week as part of its strategy to raise up to $2.0 billion through an initial public offering.

The company will hold cornerstone investor meetings across the Middle East, Europe, and the U.S., seeking to secure commitments before launching the IPO to institutional and retail investors in Malaysia.

If successful, this would mark the largest listing in Malaysia in 13 years, following IHH Healthcare’s (KLSE:5225) $2.12 billion debut in 2012, according to Dealogic data.

MMC aims to finalize cornerstone investors by the end of August and list on Bursa Malaysia in the late third quarter or early fourth quarter of 2024.

The timing and progress of the IPO could change depending on market conditions.

For large deals like this, securing cornerstone investors before an IPO helps companies market their offerings more effectively to both institutional and retail investors.

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