SkyWorld to list on Bursa Malaysia's main market

15 May 2023 10:58am
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KUALA LUMPUR - SkyWorld Development Bhd (SkyWorld), an urban property developer principally involved in investment holding, has received the Securities Commission Malaysia’s (SC) nod to list on the Main Market of Bursa Malaysia Securities Bhd.

Its founder and non-independent executive chairman Datuk Seri Ng Thien Phing said the approval marked a momentous milestone for the company as well as an affirmation of confidence in its growth trajectory.

"While the road to listing is ongoing, we remain focused on our business as we strive to deliver our ongoing developments to the highest standards,” he said in a statement.

Datuk Seri Ng Thien Phing
Datuk Seri Ng Thien Phing

SkyWorld’s initial public offering (IPO) entails a public issue of 208 million new shares, representing approximately 20.8 per cent of its enlarged issued share capital upon its listing.

Of these 208 million new shares, 50 million shares will be made available for application by the Malaysian public while 25 million shares will be made available for application by eligible directors, key senior management, employees and persons who have contributed to the success of the group.

The remaining 133 million new shares will be made available through private placements to institutional and selected investors.

The IPO further entails an offer for sale of 192 million existing shares, equivalent to approximately

19.2 per cent of the enlarged issued share capital of the group.

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Meanwhile, 150 million existing shares will be made available via private placements to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, while the remaining 42 million existing shares have been earmarked for institutional and selected investors.

Kenanga Investment Bank Bhd is the principal adviser, underwriter and placement agent for the IPO exercise - BERNAMA