PETALING JAYA: Johor-based property developer Gold Li Holdings Bhd looks to raise RM15.21mil from its upcoming initial public offering (IPO) exercise, with the issue price fixed at 13 sen per share.
In a statement post-launching its prospectus, Gold Li said about RM11.21mil from the gross proceeds will be allocated for working capital to supplement property development costs for identified ongoing and future projects, including building and infrastructure works.
The balance RM4mil will be utilised to meet the estimated expenses for the listing exercise.
The IPO exercise on the ACE Market of Bursa Malaysia comprises a public issue of 11 million new ordinary shares.
There will also be an offer for sale of 36 million existing shares.
Gold Li managing director Datuk Lee Tiau Huat said the IPO will help fund three ongoing projects and one future project, namely Taman Permatang Pasir II, Taman Kesang Mewar, Taman Naib Kadir Suria, and Lot 3797 at Mukim Linau.
