Astro tunes back in | Bangkok Post: business

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Astro tunes back in

Malaysian pay-TV titan is returning to the stock market but after 16 years as a near-monopoly, it has new business rivals to worry about.

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Sixteen years, one market delisting and two listings are the numbers that sum up the corporate journey so far of Astro, until recently Malaysia’s unrivalled pay-television broadcaster. 

This coming Friday the company starts a new journey as it finds its way back to Malaysia’s stock exchange for a re-listing. It is its second since it began beaming channels into Malaysian households in 1996, providing an alternative to the limited choices offered by the free-to-air channels and the small pay operator Mega TV, which has long since disappeared.

Astro, then known as Astro All Asia Networks Plc, was first listed in 2003 and the re-listing comes nine years later. In its first foray onto the bourse, it sold its shares at 3.65 ringgit apiece. It was taken private at RM4.30 a share in 2010 by major shareholder T. Ananda Krishnan, Malaysia’s second richest man.

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