Asian firms to list in Tokyo

Asian firms to list in Tokyo

TOKYO (AFP): Malaysia's YTL Corp. Bhd. will list on the
foreign stock section of the Tokyo Stock Exchange (TSE) in
February, becoming the first Asian company to debut on the Tokyo
market, newspapers said Saturday.

About five other Asian companies, including Indonesia's PT
Dharmala Intiutama and an unnamed Chinese company, are expected
to be listed on the TSE in 1996, the Nihon Keizai Shimbun
reported.

The TSE hopes that the listing of YTL, the first new issue in
three years, will revitalize its foreign stock market, which has
been suffering under a prolonged recession, the Nihon Keizai
Shimbun and several other dailies said.

YTL, Malaysia's premier construction group, will issue 10
million shares, worth about five billion yen (US$49 million), the
Nihon Keizai said.

PT Dharmala Intiutama, an Indonesian holding company that owns
financial firms and trading houses, is expected to make a
simultaneous debut on the TSE and the Jakarta Stock Exchange in
the second half of 1996, the Nihon Keizai said.

New Japan Securities Co. Ltd., will serve as the chief
underwriter for the Tokyo issue, it said.

Also, Nomura Securities Co. Ltd., another major Japanese
brokerage house, is said to be preparing to underwrite the
listing of another Indonesian company on the TSE, the Nihon
Keizai said.

economy," Xinhua quoted the analysts as saying.