Malaysia's stock exchange has picked Union Bank of Switzerland (UBS) to manage a foreign sale of shares from its initial public offering, a newspaper said on Saturday.
It was not immediately known if the Swiss investment bank would be working with other parties, the Business Times newspaper said.
Officials at Bursa Malaysia Bhd and at UBS in Kuala Lumpur, Malaysia's capital, could not be reached for comment.
Bursa Malaysia said in April that it had started work on a listing process aimed for early 2005, but it did not reveal the size of the IPO. The exchange has an authorised share capital of one billion ordinary shares at par value 0.50 ringgit each.
Of this, it has a paid-up share capital is 500 million shares totalling 250 million ringgit ($65.8 million).
The exchange has nine subsidiaries involved in securities clearing, derivatives trade and other activities.
It posted a revenue of 223 million ringgit ($58.7 million) for the year ended December 2003, Business Times said.
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