Malaysia's IOI Properties jumps 42 pct in market debut

Reuters

KUALA LUMPUR, Jan 15 (Reuters) - Shares in Malaysia's IOIProperties Group Bhd jumped 42 percent in early tradein their market debut on Wednesday, the first listing of theyear for the Southeast Asian country.

The company was spun out of tycoon Lee Shin Cheng'splantation firm IOI Corp Bhd, via an in-speciedistribution and a restricted sale offer to IOI Corpshareholders, raising 1.9 billion ringgit ($580 million).

The counter was trading at 3.56 ringgit a share, comparedwith the broader index's 0.4 percent fall. ($1 = 3.2635 Malaysian ringgit) (Reporting by Yantoultra Ngui and Niluksi Koswanage; Editing byEdwina Gibbs)

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