IOI Properties will use the net proceeds from the IPO to fund expansion plans and reduce debt that has risen about 22% to 25.4 billion ringgit ($6.2 billion) as of end-June from the previous year following its real estate acquisitions in Singapore.
Malaysian Tycoon Lee Yeow Seng-Led IOI Properties To Raise $490 Million From REIT’s IPO
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Forbes BusinessBy Ian Sayson, Forbes Staff
EXECUTIVE SUMMARY
IOI Properties will use the net proceeds from the IPO to fund expansion plans and reduce debt that has risen about 22% to 25.4 billion ringgit ($6.2 billion) as of end-June from the previous year following its real estate acquisitions in Singapore.
Key Takeaways
- Malaysian Tycoon Lee Yeow Seng-Led IOI Properties To Raise $490 Million From REIT’s IPO.
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Published originally on Forbes Business
