Last year, palm oil giant Felda Global Ventures raised $3.25 billion in its public listing, while Asia's largest hospital operator, IHH Healthcare, raised $2.0 billion in a dual listing in Malaysia and Singapore. IOI said it will use the proceeds from the IPO, targeted for December, for debt settlement and future expansion. IOI Properties owns large tracks of land in mostly Malaysia, including in the Iskandar economic zone now under development in the country's south, near the border with Singapore. Brazilian insurance firm BB Seguridade raised $5.7 billion in late April in the biggest IPO so far this year. (AFP)