|
|
楼主 |
发表于 18-11-2008 01:13 PM
|
显示全部楼层
UEM Land gains sharply on debut
MALAYSIAN property developer UEM Land Holdings gained sharply on itsdebut on Bursa Malaysia today, where it took over the listing status ofits parent UEM World following a restructuring exercise.
UEM Land shares climbed as much as high as 80 sen from its referenceprice of 55 sen and traded at 74 sen at 10.04 am. It was the mostactive stock in Malaysia with 15.1 million shares traded.
UEMLand, the flaghsip property arm of state investment firm KhazanahNasional, will have a market capitalisation of RM1.3 billion (US$361.3million) at its reference price, making it the country’s fifth largestlisted property developer, according to HwangDBS Vickers.
HwangDBS put the company’s fair value at RM0.45.
Post listing, UEM Land will be 77.1 per cent owned bythe UEM Group — a wholly-owned subsidiary of Khazanah — and 22.9 percent by the public.
The company has said it has got a time extension by Bursa Malaysia tomeet the required public shareholding spread of 25 per cent.
UEM Land is the master developer and main landowner in Nusajaya, one of the five flaghsip zones in Iskandar Malaysia in Johor.
TheIskandar Malaysia zone, three times bigger than Singapore, would beMalaysia’s largest economic zone. The government says it should create800,000 jobs and attract US$100 billion in investment over 25 years.
Under a restructuring plan unveiled in February this year, UEM Worldsold its stakes in four of its subsidiaries to its shareholders tofocus on property development in Johor.
UEM World sold the shares it owned in UEM Builders, Pharmaniaga, Opus Group and Cement Industries of Malaysia (CIMA).
It then reorganised its shareholdings in UEM Land through an exercisethat involved a capital repayment of RM1.26 per UEM World share and anexchange of 5 UEM Land shares for every 4 UEM World shares. - Reuters |
|
本周最热论坛帖子
发表于 18-11-2008 09:29 AM
1859 
69
