PETALING JAYA: Bursa Securities has given Eco World Development Group Bhd a six month extension from the date of completion of its proposed share subscription to comply with the public shareholding spread requirement. Eco World said in a statement that its public shareholdings would decrease from 44.14% of its paid-up capital on Dec 5,2014, to 17.02% on completion of the proposed exercise.

However, upon completion of the proposed share subscription and proposed rights issue with warrants, Eco World would undertake the proposed placement which was expected to restore the public shareholding spread to above 25%, it added.