Shares of Westports Holdings Bhd, the operator of Malaysia’s busiest port, opened at RM2.70 today, 8 percent above their initial public offering price of RM2.50.

Westports, which is partially owned by Asia’s richest man Li Ka-Shing, raised US$680 million in Malaysia’s second-largest flotation this year, behind UMW Oil & Gas Corp Bhd’s US$740 million planned listing on Nov 1.

The stock was trading at RM2.69 a share at 9.30am, compared with a basically flat broader market.

- Reuters