Plan for biggest property IPO

The property arm of the Naza Group, TTDI Development, plans to list its shares on the main board of Bursa Malaysia in the third quarter of 2008 TTDI Development Sdn Bhd, well-known for its Taman Tun Dr Ismail township in Kuala Lumpur, is set to launch Malaysia's biggest property initial public offering (IPO) this year, its top official says. The property arm of the Naza Group, TTDI has hired CIMB Investment Bank Bhd to arrange the IPO and listing. "The IPO targets a market capitalisation of at least RM850 million," TTDI group managing director Datuk Johan Ariffin told Business Times in an interview recently. Read More

(New Straits Times, 12-2-2008)