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Pin to quick picksHSBC Holdings Share News (HSBA)

Share Price Information for HSBC Holdings (HSBA)

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Share Price: 683.90
Bid: 686.40
Ask: 686.60
Change: -5.40 (-0.78%)
Spread: 0.20 (0.029%)
Open: 696.80
High: 697.90
Low: 683.90
Prev. Close: 689.30
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Malaysia's Sunway Construction plans IPO seen worth $200 mln

Tue, 06th Jan 2015 04:06

KUALA LUMPUR, Jan 6 (Reuters) - Malaysia's SunwayConstruction Group Bhd plans to list shares on the Kuala LumpurStock Exchange in an initial public offering this year,according to a draft IPO prospectus filed with Malaysia'sSecurities Commission on Tuesday.

The draft prospectus did not include an estimated size ortiming for the IPO, nor the company's market value. Bankersfamiliar with the matter expect the sale will raise up to $200million in mid-2015.

All proceeds raised will go to the firm's parent company,property to construction conglomerate Sunway Bhd. Nonew shares will be issued, according to the document.

The construction arm of Sunway, controlled by Malaysiantycoon Jeffrey Cheah, increased its net profit 4 percent to 60.7million Malaysian ringgit ($17 million) in the first eightmonths of 2014 from the same period a year earlier, the draftprospectus showed.

RHB is the sole principal adviser of the IPO.Maybank and RHB are the joint global coordinators,joint bookrunners and joint underwriters, the draft showed. HSBC and Standard Chartered are also jointbookrunners.

For the draft prospectus, please click: http://bit.ly/1HCGwq9($1 = 3.5540 Malaysian ringgit)

(Reporting by Yantoultra Ngui; Editing by Kenneth Maxwell)

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