SkyWorld Development targets RM166.4mil in proceeds from IPO

Roslan (left) and Ng at the launch of SkyWorld's IPO prospectus

KUALA LUMPUR: Main Market-bound Skyworld Development Bhd aims to raise about RM166.4mil in proceeds from its initial public offering (IPO), the bulk of which would go towards business expansion.

In conjunction with the launch of its IPO prospectus, the urban property developer said it will make a public issue of 208 million new shares and offer for sale 192 million existing shares at 80 sen per share.