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Country Heights seeks board, shareholder approval for initial coin offering

Malaysian real estate developer Country Heights Holdings Bhd. will hold an extraordinary general meeting Nov. 8 to discuss and gain shareholders support for a possible initial coin offering.

The company will also solicit approval for the appointments of technology partners and other external consultants, who will draft necessary documents required to be submitted to the relevant authorities for approval. If an initial coin offering is approved by the company board, Country Heights will seek shareholder consent and set another general meeting for the final approval for the offering and related matters.

The developer plans to issue its own asset-backed cryptocurrency, making it the first publicly listed company in Malaysia to pursue such a strategy, according to a filing.