PROPERTY COMPANY RADIUM SECURES SC NOD FOR MAIN MARKET IPO
KUALA LUMPUR, Jan 9 (Bernama) -- Property developer Radium Development Bhd has secured the Securities Commission’s (SC) approval for its initial public offering (IPO) on the Main Market of Bursa Malaysia.
“We are excited to start this new chapter in our journey, drawing from years of experience to strengthen our position in the urban property development space.
“Furthermore, our upcoming IPO on the Main Market would benefit even more stakeholders and the nation in supporting the affordable housing agenda,” group managing director Gary Gan Kah Siong said in a statement.
The company said it aims to be listed in the second quarter of 2023.
Radium said that since 2013, it has successfully delivered high-rise residential projects with gross development value (GDV) worth RM1.49 billion.
The developer said that all of its projects are strategically located in Kuala Lumpur, adding that as of Aug 31, 2022, its completed projects of Vista Wirajaya, Vista Semarak, Platinum OUG Residence, and Vista OUG had been fully sold while Platinum Splendor Residensi Semarak achieved a take-up rate of 99.93 per cent.
Radium said it is currently developing projects with a cumulative GDV of RM1.45 billion.
Malacca Securities Sdn Bhd is the principal adviser, underwriter, and placement agent for Radium’s IPO exercise.
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