KUALA LUMPUR (March 6): Iskandar Waterfront City Bhd's (IWCity) single largest shareholder Iskandar Waterfront Holdings Sdn Bhd has been exploring a restructuring exercise involving IWCity. On Friday, IWCity shares rose 27 sen or 20% to close at RM1.64, from RM1.37 a day earlier. IWCity's latest annual report showed Iskandar Waterfront Holdings owned 47.16% of IWCity as at March 31, 2016. Today, The Edge Malaysia business and investment weekly (Edge Weekly) in its latest March 6 - 12 issue, reported there is speculation IWCity might be used as a vehicle for the listing of Iskandar Waterfront Holdings. Edge Weekly reported IWCity could be used as vehicle "for a backdoor listing of Iskandar Waterfront Holdings".

Source: The Edge Markets March 06, 2017 05:13 UTC