PETALING JAYA: Integrated township and property developer, Parkland Bhd has received approval from the Securities Commission Malaysia for its initial public offering (IPO) and proposed listing on the Main Market of Bursa Malaysia.
Parkland develops integrated townships and property developments in Johor, Melaka and Selangor, supported by in-house construction capabilities.
“With a track record of 18 years in construction and property development, the group has launched integrated townships and standalone property developments with a total gross development value of RM7.4bil for the launched phases, while maintaining a strong planned development pipeline of RM5.05bil, approximately 75.5% of which is located in Johor, as of 25 May 2026,” said the company in a statement.
The group's ongoing project portfolio includes, among others, the Taman Kluang Perdana, Taman Bukit Perdana, Taman Parkland and Bandar Layangkasa townships and Parkland by The River development in Johor, as well as the Bandar Botani Parkland township and Parkland Avenue by The Sea development in Melaka.
The Group has also ventured into the renewable energy sector through a joint venture with Xinyi Power Station Development (Malaysia) Sdn Bhd, a subsidiary of Xinyi Energy Holdings Limited, a company listed on the Main Board of the Stock Exchange of Hong Kong Limited.
“The joint venture has secured the development of a 99.99 megawatts large-scale solar plant in Tangkak, Johor, which is expected to commence commercial operations in the first quarter of 2027.
Parkland group managing director Datuk Tan See Sen said the proposed IPO will provide the group with a stronger platform to accelerate its development plans, expand its land bank and further strengthen the company’s position in the property development industry."
"Moving forward, we remain committed to leveraging our established presence in Johor, Melaka and Selangor while pursuing strategic opportunities that support the Group's long-term growth," he added.
Parkland's IPO will comprise 621.54 million IPO shares, representing approximately 26.3% of its enlarged issued share capital of 2.36 billion shares upon listing.
This comprises a public issue of 468.14 million new shares and an offer for sale of 153.40 million existing shares.
Under the IPO, 550.74 million IPO shares will be made available to institutional and selected investors as well as Bumiputera investors approved by the Ministry of Investment, Trade and Industry, Malaysia while the balance of 70.80 million IPO shares will be made available to the Malaysian public via balloting and eligible employees and persons who have contributed to the success of the group.
Proceeds from the public issue will be used mainly to acquire landbanks and fund working capital for the group’s developments.
Hong Leong Investment Bank Bhd is the principal adviser for the IPO and, together with AmInvestment Bank Bhd, is joint placement agent and joint underwriter.
