Eco World investing in RM1.87bil SPAC, eyes venture outside M'sia

CIMB Research has Eco World and LBS as among its top picks.

PETALING JAYA: Tan Sri Liew Kee Sin and his associates are planning the first property special purpose acquisition company (SPAC) to be listed on the Main Market of Bursa Malaysia to raise some RM1.87bil.

It is a record of sorts because not only is it the first property SPAC to be listed on Bursa, it is also the biggest in terms of funds raised after Reach Energy Bhd’s RM1bil initial public offering in August this year.