Exchange gives the green light, easing listing requirements for Sunway Healthcare.

(KUALA LUMPUR, 23rd) Sunway (SUNWAY, 5211, Main Market Industrial) announced it has obtained approval from Bursa Malaysia to adopt a lower minimum public shareholding spread of 18% for the listing of its unit, Sunway Healthcare.

In a statement, Sunway said it received a letter from the exchange yesterday (22nd) confirming the approval for Sunway Healthcare to list with the reduced 18% public spread requirement.

Nonetheless, Bursa Malaysia has advised Sunway Healthcare to make every effort to increase its public spread to 25%.

Under listing rules, listed companies are generally required to maintain a minimum public shareholding spread of 25%, although companies may apply to the exchange for a lower threshold.

Sunway officially launched its plan to spin off and list Sunway Healthcare in late August last year, and obtained Securities Commission Malaysia (SC) approval for the listing in December.