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Sunway REIT to raise about RM1.5 bil from IPO

KUALA LUMPUR: The planned listing of Sunway City's real estate investment trust (REIT) will raise about RM1.5 billion, more than was expected in the beginning of this year, sources with direct knowledge of the deal told Reuters on Monday, May 10.

The REIT, comprising eight properties with a combined market value of about RM3.7 billion, is set to become Malaysia's largest when it is listed in the 3Q or 4Q2010. -- Reuters
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