JCY said planning S$350m IPO in Malaysia
Disk-drive component maker JCY International is seeking to raise S$350 million in an initial public offering in Malaysia and plans to price the deal around the middle of February, sources said in Singapore today. "The deal is in the pre-marketing stage and will likely be priced before the Chinese New Year," said a source with knowledge of the deal. Chinese New Year will fall on Feb 14. JCY's shareholders plan to offer as much as 530.2 million shares, according to a draft prospectus filed with the Securities Commission. Of the total shares, 89 per cent would be offered to institutional investors and the remainder to individuals. - REUTERS