SINGAPORE, Malaysia’s MMC Port Holdings has postponed its planned initial public offering (IPO) to 2026 to include its full-year 2025 financial results, according to two sources familiar with the matter.
The IPO, originally scheduled for the fourth quarter of 2025, was expected to raise over US$1.5 billion (RM6.3 billion), potentially becoming the largest Malaysian IPO since IHH Healthcare’s US$2.1 billion debut in 2012 and giving a boost to the domestic capital market.
Sources said the company is reviewing the timing of the listing to provide more complete financial disclosures and reflect recent industry and operational developments. A revised timeline will be announced in due course. Despite the delay, investor interest in the offering remains strong, one source noted.
MMC Port received regulatory approval for its listing in September. The IPO will involve an offer for sale of up to 4.3 billion existing shares—around 30% of its total 14.2 billion shares—by its sole shareholder, MMC Corp. No new shares will be issued, meaning the port company itself will not receive proceeds from the sale. MMC Corp, which was taken private in 2021 by Tan Sri Syed Mokhtar Al-Bukhary, will retain a 70% stake post-listing.
As Malaysia’s largest port operator, MMC Port runs five ports along the Strait of Malacca, three cruise terminals, a solid product jetty terminal, and provides ship-to-ship transfer services. In 2024, the company reported a net profit of RM636.6 million on revenue of RM4.36 billion.
