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KINIBIZ IOI Properties Group (IOIPG) has certainly returned with a bang after leaving our jungle in 2009 (known then as IOI Properties).

Its first day of listing alone saw a 23.1 percent rise in share price from the reference price of RM2.51 to RM3.09 per share as at the noon break - it’s a good day for IOIPG shareholders. Nay, make that a great one, because lest we forget, most of the shareholders got their shares for free.

Approximately two-thirds of IOIPG’s current share base of about 3.23 billion units was distributed to IOI Corp’s shareholders at one IOIPG share for every three IOI Corp shares held as at Dec 19, 2013.

Of course Tiger understands that the gain in IOIPG comes at the expense of IOI Corp’s market capitalisation, which will likely correct to reflect the separation of its property component. As at today’s noon bell IOI Corp was traded at RM4.21 per share, down 39 sen from RM4.60 on Dec 19.

But all in all, the average shareholder makes good money.

For the complete article go to KiniBiz .

This article was written by Khairie Hisyam.

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