Malaysian property developer Aspen Holdings has launched its initial public offering (IPO) on the Singapore Exchange's Catalist board.
Here are five things you need to know about the IPO:
- About Aspen Holdings
Aspen Holdings Limited is a property developer which focuses on affordable residential and mixed development properties, targeting middle-income mass market purchasers.
- Offer size
The firm is said to be issuing 173.3 million, with 168.9 million shares available for the subscription of institutional investors while the remaining 4.35 million shares are offered to the public.
- Offer price
New shares will be issued at 23 cents each.
- IPO proceeds
The IPO is likely to raise S$32.76 million, which will be used to buy land banks, repay bank loans and as working capital.
- Listing date
Shares are expected to start trading on July 28.
(With inputs from Reuters)