KUALA LUMPUR : Eco World International Bhd arrangements to raise more than RM2bil under its posting exercise by offering 2.15 billion new partakes in the organization, Bloomberg reports.
GuocoLand Ltd has consented to subscribe for a 27% vital stake in the IPO. Eco World Bhd and GuocoLand will be the two biggest shareholders in Eco World International after the posting with 27% each.
Reserves raised from the IPO would be utilized to fund four activities in London and Sydney.
The news wire said GuocoLand, which works in Singapore, China, Malaysia and Vietnam, has been effectively hoping to venture into new markets.
UK and Australia markets offer development potential, GuocoLand CEO Raymond Choong was cited saying in an announcement.
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