Radium Development Bhd, which is principally involved in the development of high-rise residential properties, is seeking a listing on the Main Market of Bursa Malaysia to raise funds for the group's land bank acquisition for future developments in the Klang Valley.

It also hopes to raise funds to repay the group’s bank borrowings, to develop a hotel in Ampang, and for working capital.

According to its draft initial public offering (IPO) prospectus posted on the Securities Commission Malaysia’s website, 800 million new shares will be issued — representing about 25% of its enlarged issued share capital — of which 200 million shares will be made available for application by the Malaysian public.

Of the balance, 400 million will be placed with selected Bumiputera investors approved by the Ministry of International Trade and Industry, while 140 million will be placed out to other selected investors. The remaining 60 million will be made available for application by eligible key senior management, employees and business associates.


RADIUM DEVELOPMENT BERHAD

Opening of application 27 Apr 2023
Closing of application 16 May 2023
Balloting of application 19 May 2023
Allotment of IPO shares to successful applicants 26 May 2023
Tentative listing date 31 May 2023

This post has been edited by nexona88: Jul 10 2023, 04:01 PM

Another umno crony cashing in 🤦‍♀️

Radium's leadership are well known entrepreneur in property industry. They are not political linked.

Stop preaching as they are well known for nice models but bad delivery in projects till defects still laying around for years 🤦‍♀️

Ppl around that Development knows about how unradiant upon delivery 👏

xander83 is your Dupe account that gotten SUS ahh? 😜😋😏

Just realized the post above have almost same name...

Different person 🤦‍♀️ just because got same name doesn’t mean the same person

Many ppl in this world called David doesn’t it mean the same person

Just curious only
Since just saw it above
Chill Bro 😁

800 million shares ? Tats alot of shares.. Better be less than 30c..

Very surprisingly to see them list. The father character totally doesn't seems like a person who will want to do public listing.

Desperate now as liquidity drys up for future projects

If list one vehicle maybe I still understand, they got another construction arm vehicle named Southern Score Bhd which they just reversed took over & came out from PN17 last year Nov 22.

Most likely cash got burned when taking over hence now liquidity drys up and when banks unable to offer working capital this where companies will go to next ipo

Heard 50-60 cent, main board 30 cent where got

needed to see the PE

but looking at price solely... yes.. pricey side

property developer got prospects? Some more is residential, so much overhang already

One year already still not listed?

Not yet get the all the approval needed 🙂

So it's delay

As long as SC doesn’t approved then it can be as long as it wants to be 🤦‍♀️

Wondering what the problem? 🤔

No need to wonder the problem 🤦‍♀️ it is just because of book keeping purposes that SC doesn’t approve

To be listed most important is always is the books hence why company willing pay a starting million dollar to reputable IBs to secure the approval for listing