Deals
Malaysia State Firm Weighs IPO for $1 Billion Palm Oil Arm
- Malaysian firm could seek about $227 million in Kulim listing
- Plantation arm’s share sale could happen as soon as next year
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A Malaysian state-owned investment firm Johor Corp. could seek to raise about 1 billion ringgit ($227 million) in an initial public offering of its plantation unit, according to people with knowledge of the matter.
The investment arm of the Johor state government is asking bankers for pitches for the potential listing of Kulim Malaysia Bhd., and is targeting a valuation of around $1 billion for the unit, the people said. An IPO in Kuala Lumpur could happen as early as next year, said the people, who asked not to be identified as the process is private.