KUALA LUMPUR, July 8, 2015:

Sunway Construction Group Bhd raised RM550 million in Malaysia’s second-largest initial public offer (IPO) of the year after final pricing came in at the top of its indicative range.

The construction arm of conglomerate Sunway Bhd said in a statement it had fixed the institutional and retail IPO price at RM1.20 per share.

The offering had been marketed in a range of RM1.15 to RM1.20 per share, according to Thomson Reuters publication IFR. It is scheduled to debut on the local bourse on June 28.

Maybank Investment Bank and RHB Investment Bank were global coordinators of the IPO. The two banks and HSBC were joint bookrunners.

The offering follows a RM2.74 billion IPO in May by Malakoff Corporation Bhd, the country’s largest independent power producer.

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