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Malaysia's UMW to sell 39 pct in energy unit IPO, may raise $1 bln
May 17, 2013 / 1:20 AM / 4 years ago

Malaysia's UMW to sell 39 pct in energy unit IPO, may raise $1 bln

KUALA LUMPUR, May 17 (Reuters) - UMW Holdings Bhd, Malaysia’s industrial-to-automotive conglomerate, is planning to sell 39 percent of its oil and gas unit in an IPO, a deal that some bankers say could raise up to $1 billion.

It plans to offer 843.1 million shares in wholly owned UMW Oil & Gas Corporation Bhd via an initial public offering, a stock exchange filing said. (Reporting by Yantoultra Ngui; Editing by Edwina Gibbs)

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