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Malaysia's Bumi-Commerce says Yingkou IPO an option

Sun Mar 16, 2008 10:45pm EDT

KUALA LUMPUR, March 17 (Reuters) - Malaysia's second-biggest lender, Bumiputra-Commerce Holdings BUCM.KL, may list China's Bank of Yingkou Company through an initial public share offer as one of several options, the Malaysian bank said on Monday.

Earlier on Monday, Bumiputra-Commerce agreed to invest 156.2 million ringgit ($49.43 million) in Bank of Yingkou in return for a 19.99 percent stake.

In announcing the deal, Bumiputra-Commerce Chief Executive Nazir Razak told reporters that Bank of Yingkou could also serve as a base for expanding into Islamic finance in China. (Reporting by Clarence Fernandez, editing by Mark Bendeich)



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