IOI Properties issues draft prospectus

PETALING JAYA: IOI Properties Group Bhd, en route to demerge from parent company IOI Corp Bhd and relist on the Main Market of Bursa Malaysia, will distribute up to 2.162 billion shares on the basis of one IOI Properties share per three existing shares held in IOI Corp.

“We would not be raising any funds from the listing, as we are not issuing any new shares pursuant to the listing scheme,” it said in a draft prospectus on the Securities Commission’s website.