KUALA LUMPUR: Property developer, Gold Li Holdings Bhd has signed an underwriting agreement with M & A Securities Sdn Bhd in preparation for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.
Based on the prospectus exposure, Gold Li’s IPO involves a public issue of 117.0 million new ordinary shares and an offer for sale of 36.0 million existing shares, representing 25.5% of the group’s enlarged issued share capital of 600.0 million shares upon listing.
The IPO proceeds will mainly be used for working capital to fund property development costs for ongoing and future projects, as well as to cover listing expenses, reducing reliance on external financing and enabling the group to undertake more projects concurrently.
Since its inception in 1999, Gold Li has focused on developing high-quality landed homes mainly in Johor’s Muar, Tangkak and Batu Pahat districts. The group adopts an integrated model, acting as the main contractor for its own projects to maintain strict control over quality, timelines and costs.
As of Oct 31, 2025, Gold Li had completed 110 residential and commercial projects, with 10 ongoing developments, 30 planned projects and 34 land parcels for future development, reinforcing its reputation in the regional property market.
Under the terms of the agreement, M & A Securities will underwrite a total of 36.0 million shares, comprising the portions made available to the Malaysian public and the eligible persons under the Pink Form allocation. The remaining shares will be placed out to Bumiputera and selected investors via private placements.
Gold Li managing director Datuk Lee Tiau Huat said the execution of the underwriting agreement marks a key step towards Gold Li’s planned listing on the ACE Market.
The managing director said the group has built a resilient foundation over the past 27 years by focusing on the landed residential segment while maintaining in-house construction expertise
“With the IPO proceeds, we intend to supplement our property development costs for upcoming projects and strengthen our working capital.
“This listing will provide the financial flexibility required to further expand our landbank and transition into high-rise residential developments, ensuring our continued growth within Johor’s property landscape,” he said in a statement.
Meanwhile, M & A Securities head of corporate finance Gary Ting said: “Gold Li’s long-standing history and extensive track record of delivering over 100 projects demonstrate its operational strength and market acceptance in Johor. The Group’s integrated approach and clear vision for portfolio diversification provide a solid platform for future value creation.”
M & A Securities is the adviser, sponsor, underwriter and placement agent for the IPO.
