Gold Li IPO Oversubscribed 3.26 Times Ahead Of ACE Market Listing
KUALA LUMPUR, May 8 (Bernama) -- Property developer Gold Li Holdings Bhd’s initial public offering (IPO) has been oversubscribed 3.26 times ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd.
In a statement, the company, which focuses on landed residential developments and in-house construction services, said it received 4,591 applications for 127.8 million shares from the Malaysian public.
The Bumiputera public tranche attracted 2,105 applications for 32.9 million shares, resulting in an oversubscription of 1.19 times. The non-Bumiputera public tranche recorded 2,486 applications for 94.9 million shares, or 5.33 times oversubscribed.
Managing director Datuk Lee Tiau Huat said the strong response reflected investor confidence in the group’s prospects.
“For more than two decades, we have focused on delivering quality landed homes in Muar, Tangkak and Batu Pahat. This milestone reflects investor belief in our expansion plans,” he said.
He added that, as a listed entity, the group intended to use IPO proceeds mainly for working capital to support property development activities, while strengthening its foundation for future growth, including a planned move into high-rise developments.
The company said 30.0 million shares, or 5.0 per cent of the enlarged issued share capital, will be available for application by the Malaysian public, while 6.0 million shares, or 1.0 per cent, will be allocated to eligible directors, employees and other contributors to the group.
A further 42.0 million shares, or 7.0 per cent, will be placed with selected investors, while 39.0 million shares, or 6.5 per cent, will be reserved for Bumiputera investors approved by the Ministry of Investment, Trade and Industry.
Separately, 36.0 million existing shares, or 6.0 per cent of the enlarged issued share capital, will be offered via private placement to Bumiputera investors approved by MITI.
According to the prospectus, IPO proceeds will primarily be used as working capital to fund ongoing and future property development projects, including construction and infrastructure works, as well as to cover listing expenses.
Gold Li is scheduled to debut on the ACE Market of Bursa Malaysia Securities on May 18, 2026.
M&A Securities Sdn Bhd is the principal adviser, sponsor, underwriter and placement agent for the IPO.
-- BERNAMA