<article>Malaysia-based Matang BHD plans to sell 130 million shares in IPO, while VF Capital inks $100 million joint venture with Windbell Technology in China.</article>

Malaysia-based Matang BHD plans to sell 130 million shares in IPO, while VF Capital inks $100 million joint venture with Windbell Technology in China.
<h3 style="text-align: justify">Plantation management firm to launch IPO</h3>
<a style="color: #000080" href="http://www.dealstreetasia.com/?s=matang">Matang Bhd</a> is to issue 130 million new shares, representing 7.18 per cent of its registered and paid-up capital, for 10 sen each in an initial public offering (IPO).
The company said in the statement that it has obtained the approval from Bursa Malaysia Securities Bhd to continue the IPO process on the ACE Market. It expects to be listed by the first quarter next year.
Matang was incorporated in April last year to run the management of plantation estates, the sale of oil palm fresh fruit bunches and property investment holding.
“The IPO will enable us to tap the equity capital market to raise funds and provide us the financial flexibility to pursue our future growth opportunities,” Matang’s chairman Datuk Teh Kean Ming said.
The IPO proceeds will be mainly used for general working capital requirements and finance the day-to-day operations of Matang and its subsidiaries, he added.
<h3 style="text-align: justify">VF Capital inks $100m JV</h3>
Malaysia-based <a style="color: #000080" href="http://www.dealstreetasia.com/?s=vf+capital">VF Capital Sdn Bhd</a>, a subsidiary of private equity firm Priharta Development Sdn Bhd, signed a $100-million joint venture agreement with <a style="color: #000080" href="http://www.dealstreetasia.com/?s=windbell+technology">Windbell Technology Co Ltd</a> in Beijing last week to turn biomass from oil palm into high value products, reported by The Borneo Post.
This agreement aims at create wealth and jobs in Sarawak and help China lessen pollutants.
It is projected to generate exports worth $100 million annually and create 1,500 jobs for Sarawak where it has 1.4 million hectares of land planted with oil palms.
The state lured total investment of RM11.8 billion in 2015 and RM1.65 billion in the first quarter of this year.
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Malaysia-based Matang BHD plans to sell 130 million shares in IPO, while VF Capital inks $100 million joint venture with Windbell Technology in China. 

Malaysia Digest: Matang Bhd to launch IPO; VF Capital inks $100m JV

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Malaysia Digest: Matang Bhd to launch IPO; VF Capital inks $100m JV

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