IOI Properties launches property trust IPO seeking 2.1 billion ringgit
The offering puts the trust's value at about 5.3 billion ringgit, with a Bursa Malaysia listing planned for November 25.
Marvell signs $115 billion stock deal for Lumentum
Lumentum investors would get 4.5 Marvell shares for each share held, with the transaction putting its equity value at about $80 billion.
Marvell, a designer of custom chips, has signed an agreement to purchase Lumentum through a share exchange. The transaction assigns the optical chip and networking equipment maker an enterprise value, including debt, of $115 billion. Its equity is valued at about $80 billion.
Under the agreement, each Lumentum share would be exchanged for 4.5 common shares in Marvell. Closing is anticipated during the first half of 2028, conditional on regulatory clearance and approval by shareholders at both businesses.
Nvidia holds a major stake in each company. Its $2 billion investment in Lumentum in March supported research and development and fabrication plant expansion, alongside a multiyear commitment to purchase advanced laser components from Lumentum.
Later in March, Marvell disclosed that Nvidia had invested $2 billion to expand its optical networking and chip portfolio. Marvell said combining with Lumentum would give it a leadership position in AI connectivity, offering products across chips and data centers.