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Sunway Construction offers up to 327.59 mil shares for sale

PETALING JAYA (June 29): Sunway Construction Group Bhd’s (SCG) listing exercise will offer up to 398.7 million shares for sale, of which 327.59 million shares  will be for institutional investors and 71.1 million shares for retail investors. 

The construction outfit’s controlling shareholder Sunway Bhd will be distributing 175 million SCG shares to entitled shareholders by way of dividend-in-specie on a basis of one distribution share for every 10 existing Sunway shares held.

In SCG's prospectus to Bursa Malaysia, Sunway said it will not receive any proceeds from this listing.

The offer for sale is expected to raise proceeds of approximately RM478.4 million, according to the prospectus.  

The booking building exercise starts today. The closing date for institutional investors are on July 7, while retail on July 6.

The tentative date for SCG's listing is July 28.

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