Iskandar Waterfront City rises 7.3% as major owner opts for merger
Iskandar Waterfront Holdings decides against direct listing on Bursa
Kuala Lumpur
SHARES of Iskandar Waterfront City Bhd (IWC) jumped 7.3 per cent to RM1.76 on Thursday after its major shareholder Iskandar Waterfront Holdings Bhd (IWH), which owns valuable land bank in Bandar Malaysia and Iskandar Malaysia, decided to eschew a direct listing on Bursa Malaysia and to take over the listing status of IWC via a proposed merger instead.
With IWH opting for a merger route, the only relatively large initial public offering at present is that of Eco World International.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Homebuyers shun new real estate in Vancouver, hurting builders
US pending home sales jump in March to hit highest in the year
Blackstone strikes US$1.6 billion student housing deal with KKR
European real estate deals slump to lowest level in 13 years
Singapore Q1 industrial rents rise further as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co