KUALA LUMPUR: Property developer Parkland Bhd has received approval from the Securities Commission (SC) for its initial public offering (IPO) and proposed listing on the Main Market of Bursa Malaysia.
The IPO will comprise 621.54 million shares, representing 26.3 per cent of the group's enlarged issued share capital of 2.36 billion shares upon listing.
It will comprise a public issue of 468.14 million new shares and an offer for sale of 153.40 million existing shares.
Of the total IPO shares, 550.74 million will be made available to institutional and selected investors, as well as Bumiputera investors approved by the Investment, Trade and Industry Ministry.
