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Malaysia's IOI Properties jumps 42 pct in market debut

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

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

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