Malaysia developer Eco World Int'l begins IPO process, may list in April

Kuala Lumpur

PROPERTY developer Eco World International Bhd (EWI) has kicked off the process of initial public offering (IPO) with the signing of three agreements, including a share subscription deal with GuocoLand to take up 27 per cent of its enlarged paid-up capital.

Targeted to raise over RM2 billion (S$636 million), EWI's IPO appears set to be the largest in Malaysia this year, attracting participation from nearly all the local banks. The company is expected to list on the mainboard of Bursa Malaysia in April.