Malaysia's Samling said to prepare $250m IPO for auto biz

Samling is the official distributor for Bentley Motor Cars in Malaysia.

Samling Group, the Malaysian timber giant, is planning an initial public offering of its automotive operations that could raise more than 1 billion ringgit ($250 million), people with knowledge of the matter said.

Samling is working with advisers to explore a possible dual listing of the business in Kuala Lumpur and Singapore later this year, according to the people. The share sale could include Samling’s domestic car dealership division as well as operations under StarChase, a luxury auto distributor backed by the group’s controlling Yaw family, one of the people said, asking not to be identified because the information is private.

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