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Tune Insurance IPO launch expected february 2013

Tune Insurance IPO launch expected february 2013, Tune Insurance IPO shares prices : The founders of Malaysia's AirAsia Bhd (AIRA.KL) are expected to launch a $65 1 1000 k initial world offering (IPO) of Tune Insurance Bhd by the halt of February, 2 sources approximately the bargain told Reuters.

The flotation would endure the offset of iii IPOs due to enhance a combined $500 1 1000 k that Tony Fernandes too Kamarudin Meranun, founders of Asia's largest budget carrier, are planning this year.

"An investor route demo volition get down towards the halt of this month," 1 of the sources said, declining to endure named every bit the affair is nevertheless private. Tune Insurance officials were non straight off available to comment.

A root alongside directly cognition of the bargain told Reuters inwards Oct that Tune Insurance, a unit of measurement of fiscal services-to-discount hotel conglomerate Tune Group owned past times Fernandes too Kamarudin, is looking at a marketplace position capitalization of $260 1 1000 k upon listing.

The IPO, comprising 210 1 1000 k shares, volition assist to fund Tune Insurance's expansion plans in the underinsured Southeast Asia region, Fernandes, who is due to attain got on the hire-or-fire business office of would-be employer inwards an Asian adaptation of "The Apprentice" TV show, told reporters end September.

RHB Investment Bank RHBCR.UL is the primary adviser for the IPO. CIMB Group Holdings Bhd (CIMB.KL), CLSA, ECM Libra Financial Group Bhd (ECMA.KL) too RHB are the articulation mass runners.

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