 |
| Eco World International Bhd executive vice chairman Tan Sri Liew Kee Sin said the approval of the SC is a significant milestone in EWI’s journey to become a listed entity. |
KUALA LUMPUR: Eco World International Bhd (EWI) has received the Securities Commission’s approval for its initial public offer (IPO) to list on the Main Market of Bursa Malaysia Securities Bhd.
It said on Thursday the proposed IPO will involve the issuance of up to 2.153 billion new RM1 shares in EWI representing up to 89.7% of its enlarged issued and paid-up share capital.
The property company said there would also be a bonus issue of up to 960.0 million free warrants in EWI on the basis of two warrants for every five Shares held after the IPO.
EWI executive vice chairman Tan Sri Liew Kee Sin said the approval of the SC is a significant milestone in EWI’s journey to become a listed entity.
“We look forward to completing the whole exercise by mid-2016. Once we are listed we will be placed on a much stronger footing to grow our business internationally and take advantage of attractive new development opportunities which may be presented to us both in the UK and Australia,” he said.
EWI said proceeds from the proposed IPO will be utilised by EWI primarily to provide on-going working capital for the group’s projects in the UK and Australia and to repay borrowings undertaken to part-finance amongst others, land and related acquisition costs and project development expenditures.
EWI’s projects in London, UK and Parramatta (West Sydney), Australia have garnered cumulative sales of £712.5mil as at Jan 31, 2016.
They include London City Island Phase 2 in East London which achieved sales of £273.9mil since its launch in May 2015; Embassy Gardens Phase 2 in Nine Elms recorded total sales of £120.8mil following its launch in September 2015; Wardian London, which is next to the Canary Wharf, London, which was also launched in September 2015, secured £186.4mil in sales; and West Village, Parramatta is close to 90% sold with A$265.6mil (approximately £131.4mil) in sales obtained since its launch in June 2015.
KUALA LUMPUR: Eco World International Bhd (EWI) has received the Securities Commission’s approval for its initial public offer (IPO) to list on the Main Market of Bursa Malaysia Securities Bhd.
It said on Thursday the proposed IPO will involve the issuance of up to 2.153 billion new RM1 shares in EWI representing up to 89.7% of its enlarged issued and paid-up share capital.
The property company said there would also be a bonus issue of up to 960.0 million free warrants in EWI on the basis of two warrants for every five Shares held after the IPO.
EWI executive vice chairman Tan Sri Liew Kee Sin said the approval of the SC is a significant milestone in EWI’s journey to become a listed entity.
“We look forward to completing the whole exercise by mid-2016. Once we are listed we will be placed on a much stronger footing to grow our business internationally and take advantage of attractive new development opportunities which may be presented to us both in the UK and Australia,” he said.
EWI said proceeds from the proposed IPO will be utilised by EWI primarily to provide on-going working capital for the group’s projects in the UK and Australia and to repay borrowings undertaken to part-finance amongst others, land and related acquisition costs and project development expenditures.
EWI’s projects in London, UK and Parramatta (West Sydney), Australia have garnered cumulative sales of £712.5mil as at Jan 31, 2016.
They include London City Island Phase 2 in East London which achieved sales of £273.9mil since its launch in May 2015; Embassy Gardens Phase 2 in Nine Elms recorded total sales of £120.8mil following its launch in September 2015; Wardian London, which is next to the Canary Wharf, London, which was also launched in September 2015, secured £186.4mil in sales; and West Village, Parramatta is close to 90% sold with A$265.6mil (approximately £131.4mil) in sales obtained since its launch in June 2015.
KUALA LUMPUR: Eco World International Bhd (EWI) has received the Securities Commission’s approval for its initial public offer (IPO) to list on the Main Market of Bursa Malaysia Securities Bhd.
It said on Thursday the proposed IPO will involve the issuance of up to 2.153 billion new RM1 shares in EWI representing up to 89.7% of its enlarged issued and paid-up share capital.
The property company said there would also be a bonus issue of up to 960.0 million free warrants in EWI on the basis of two warrants for every five Shares held after the IPO.
EWI executive vice chairman Tan Sri Liew Kee Sin said the approval of the SC is a significant milestone in EWI’s journey to become a listed entity.
“We look forward to completing the whole exercise by mid-2016. Once we are listed we will be placed on a much stronger footing to grow our business internationally and take advantage of attractive new development opportunities which may be presented to us both in the UK and Australia,” he said.
EWI said proceeds from the proposed IPO will be utilised by EWI primarily to provide on-going working capital for the group’s projects in the UK and Australia and to repay borrowings undertaken to part-finance amongst others, land and related acquisition costs and project development expenditures.
EWI’s projects in London, UK and Parramatta (West Sydney), Australia have garnered cumulative sales of £712.5mil as at Jan 31, 2016.
They include London City Island Phase 2 in East London which achieved sales of £273.9mil since its launch in May 2015; Embassy Gardens Phase 2 in Nine Elms recorded total sales of £120.8mil following its launch in September 2015; Wardian London, which is next to the Canary Wharf, London, which was also launched in September 2015, secured £186.4mil in sales; and West Village, Parramatta is close to 90% sold with A$265.6mil (approximately £131.4mil) in sales obtained since its launch in June 2015.
ECOWLD (8206) - Eco World International gets SC nod for listing
http://www.thestar.com.my/business/business-news/2016/04/07/eco-world-international-gets-sc-nod-for-listing/
