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Eco World International raises over $580 million in Malaysia's largest IPO so far this year

KUALA LUMPUR (NewsRise) - Eco World International, the overseas arm of Malaysian real estate developer Eco World Development Group, has raised 2.58 billion ringgit ($580.18 million) in the country's biggest initial public offering in nearly two years.

The IPO was priced at 1.20 ringgit a share for both institutional and retail investors, Eco World International said in a statement. The institutional offering was covered nine times while the retail tranche was oversubscribed by 8.87 times, the company said.

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