Sime Darby seeks $500 mln by listing automobile unit-sources
KUALA LUMPUR, July 4
KUALA LUMPUR, July 4 (Reuters) - Malaysia's Sime Darby Bhd , the world's top oil palm planter by landbank size, is seeking to raise about $500 million by listing its automobile unit as early as this year, people familiar with the matter said on Friday.
Sime Darby has invited banks to make a pitch to win the IPO mandate, they added. The plantations-to-motoring conglomerate has earlier flagged possible listings of some units to improve valuations.
Sime Darby officials did not immediately reply to a Reuters email seeking comment. The people declined to be identified as they were not authorised speak to the media. (Reporting By Anuradha Raghu and Ngui Yantoultra; Editing by Denny Thomas and Miral Fahmy)