IOI Properties’ Potential SGX Listing Remains Under Evaluation

KUALA LUMPUR, Oct 13 (Bernama) -- IOI Properties Group Bhd said its management is still evaluating potential capital market initiatives, including a secondary listing on the Singapore Exchange (SGX), with no formal proposal submitted to the board for consideration.

Clarifying the news article regarding the matter, it said the remarks attributed to group chief executive officer Datuk Lee Yeow Seng were made in the context of management’s consideration.

The article, titled “IOI Properties in talks for secondary listing on SGX”, was published by The Edge Malaysia and The Edge Singapore.

In a filing with Bursa Malaysia today, it said management would continue to review, assess and evaluate potential opportunities based on their strategic merits and potential benefits to the company and its shareholders, including access to different jurisdictions for trading in the company’s securities.

“Any proposal recommended by management will be submitted to the board for approval and will be subject to applicable regulatory requirements.

“As at the date of this announcement, the potential secondary listing on SGX remains under evaluation by management, and no formal proposal has been submitted to the board for consideration,” it said.

The company would make the necessary announcements on any material developments in accordance with the Main Market Listing Requirements of Bursa Malaysia Securities Bhd.

-- BERNAMA