KUALA LUMPUR: Eco World International Bhd (EWI) has obtained the Securities Commission’s nod for its proposed listing.
The listing involves an initial public offering of up to 2.15 billion new shares representing up to 89.7 per cent of EWI’s enlarged issued and paid-up share capital.
There will also be a bonus issue of up to 960 million free warrants in EWI (“Warrants”) on the basis of two warrants for every five shares held after the IPO.
“The approval is a significant milestone in EWI’s journey to become a listed entity,” EWI executive vice chairman Tan Sri Liew Kee Sin said in a statement today.
“We look forward to completing the whole exercise by mid-2016,” he added.
Liew said once it was listed, EWI would be placed on a much stronger footing to grow its business internationally and take advantage of attractive new development opportunities.
The company’s projects in London, United Kingdom and Parramatta (West Sydney), Australia had garnered cumulative sales of712.5 million pound as at January 31 this year.