Petaling Jaya: SkyWorld Development Bhd, an urban property development company primarily engaged in holding investments, providing management services to subsidiaries and developing properties, has received approval from the Securities Commission of Malaysia (SC) for listing on Bursa Malaysia Securities Main Market. rice field.
Skyworld’s initial public offering (IPO) will offer 208 million new shares to the public, representing approximately 20.8% of the issued share capital expanded at the time of listing. Of these, 50 million shares will be available for application by Malaysian citizens and 25 million shares will be available for application by eligible directors, key senior managers, employees and others who have contributed to the Group’s success. The remaining 133 million new shares will be offered to institutional and select investors through a private placement.
The IPO will also be accompanied by an offer to sell 192 million existing shares representing approximately 19.2% of the Group’s expanded issued share capital. Approximately 150 million existing shares will be offered through a private placement to Bumiputra investors approved by the Ministry of Investment, Trade and Industry, with the remaining 42 million shares allocated to institutional and select investors.
Datuk Seri Ng Thien Ping, Founder and non-independent Executive Chairman of Skyworld said: This is an important milestone for us and confirms our confidence in Skyworld’s growth trajectory. As the road to listing continues, we remain focused on our business while striving to deliver continuous development to the highest standards. ”
Datuk Seri Ng Thien Ping, Founder and Non-Independent Executive Chairman of Skyworld
