Summary
- KEB Berhad launches prospectus for ACE Market listing.
- IPO aims to raise RM48.49 million at RM0.35 per share.
- Property developer has RM1.74 billion in planned and ongoing projects.
KUALA LUMPUR, November 2 — Property developer KEB Berhad launched its prospectus ahead of its planned ACE Market listing on Bursa Malaysia on November 16.
The company aims to raise RM48.49 million through the issuance of 138.54 million new shares priced at RM0.35 each.
KEB has six ongoing and future developments with a combined estimated gross development value of RM1.74 billion, supported by approximately 60 acres of landbank.
Managing Director Lim Kim Chong said the proceeds would support land acquisitions, project development and debt repayment, with IPO applications opening October 23 and closing November 2.
