Iskandar Waterfront City rises 7.3% as major owner opts for merger

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.