Malaysia's IOI plans $5.2 billion IPO for its property arm
KUALA LUMPUR (AFP) - Malaysian palm-oil producer IOI Corp. has said it plans an IPO for its property arm worth more than 12.6 billion ringgit (S$5.2 billion), in what would be among the world's largest listings this year.
Malaysia's fourth-largest listed palm oil producer by acreage said late on Tuesday the initial public offering would see it spin off its property assets in a new entity called IOI Properties Group.
The announcement is the latest to indicate another potentially active year for IPOs on Malaysia's stock exchange.
AirAsia X - the long-haul arm of successful budget carrier AirAsia - plans to raise up to US$300 million in a listing possibly as early as July, a source close to the matter told AFP.