SHARES of IOI Properties Bhd rose as much as 8.3 per cent or RM1.10 yesterday, fuelled by a privatisation rumour which was promptly denied by the company.There was speculation that IOI Corp Bhd, which holds about 70 per cent of IOI Properties, could take its subsidiary private, offering RM15 a share. At that price, it would cost IOI Corp about RM1.5 billion to buy the remaining shares it does not own. Recently, IOI Prop and Ho Bee Investment Ltd won a bid to buy land on the resort island of Sentosa, Singapore, for S$1.097 billion (RM2.5 billion).
(16-1-2008 New Straits Times)
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