PETALING JAYA: Faire Bhd is eyeing a listing on the ACE Market of Bursa Malaysia.
The company is principally involved in property development. In its draft prospectus exposure, the company said its initial public offering (IPO) will entail the public issue of 190 million new ordinary shares.
TA Securities Holdings Bhd is the sponsor for the company’s IPO.
The company said the proceeds from the IPO will be used for development funding, working capital and listing expenses.
“We intend to further strengthen our market presence as a property developer and increase our portfolio of projects in Johor, primarily in the district of Johor Baru.
“We will build on the existing positive market acceptance of our property development projects in Johor by leveraging on our extensive experience and insight into the economic prospects, demographics and residential property development market in Johor,” said the company.
