Guess where Brunei's largest bank is listing?

KUALA LUMPUR (June 13): Brunei's largest lender, Bank Islam Brunei Darussalam, aims to raise as much as US$500 million ($691 million) in the very first listing of a firm from the sultanate.

But what’s surprising is that the bank has chosen to be listed on Bursa Malaysia rather than the Singapore Exchange even though Brunei has a currency which is pegged to the Singdollar.

JPMorgan and Malayan Banking Bhd (Maybank) are set to be joint global coordinators for an initial public offering of US$200 million–US$500 million this year, reported IFR, a Thomson Reuters publication. A bookrunner is also likely to be added, it said.

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