<article><a href="http://www.dealstreetasia.com/?s=Sunway" target="_blank">Sunway Construction Group Bhd</a> has filed its draft prospectus with the Malaysian Securities Commission today, keeping on track with its intention to list this year.</article>

<a href="http://www.dealstreetasia.com/?s=Sunway" target="_blank">Sunway Construction Group Bhd</a> has filed its draft prospectus with the Malaysian Securities Commission today, keeping on track with its intention to list this year.
The spin-off of <a href="http://www.dealstreetasia.com/stories/malaysias-sunway-construction-plans-200m-may-float/" target="_blank">Sunway Bhd’s construction unit could raise up to $200 million</a>, although the draft prospectus did not specify the size of the initial public offering (IPO), nor did it mention the timing or market value.
Banking sources say that the IPO is estimated to be in four to five months, supposedly after the group carries out an expected meeting with shareholders once it obtains listing approval from the Securities Commission.
The IPO is timed with the expected market upswing especially for the IPOs. With mega listings and special purpose acquisition companies (SPACs) joining the line up to go public in 2015, the<a href="http://www.dealstreetasia.com/stories/2015-malaysia-cos-raise-7-14b-ipos/" target="_blank"> Malaysian IPOs are expected to raise $6.64 billion this year</a> .
For Sunway BHD&#8217;s construction unit&#8217;s IPO, all proceeds will go into the parent company (Sunway Bhd), and no new shares will be issued.
The construction division of the property and construction group recorded a 4 per cent increase in net profit for the first eight months in 2014 to MYR60.71 million ($17.08 million) compared with the corresponding period a year earlier.
The draft prospectus showed that revenue for the period was MYR1.16 billion ($330 million), 1.2 percent lower than a year before but the division enjoyed lower cost of sales.
Sunway Construction was founded in 1981, taking on many major infrastructure projects in Malaysia such as key expressways and developments in federal administration city Putrajaya and southern economic development corridor Iskandar Malaysia.
RHB Investment Bank is the sole principal advisor for the listing. Maybank Investment Bank and RHB Investment Bank are the joint global coordinators, joint bookrunners and joint underwriters. 
HSBC and Standard Chartered are joint bookrunners.

Sunway Construction $200m IPO likely in Q2

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Sunway Construction $200m IPO likely in Q2

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