KUALA LUMPUR (April 27): Property developer Radium Development Bhd, en route to a Main Market listing on May 31, has set a price of 50 sen per share for its initial public offering (IPO) exercise that will raise RM434 million. The exercise comprises a public issuance of 868 million new shares, or 25% of its enlarged share capital of 3.47 billion shares. A further 435 million shares will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry, followed by the remaining 100 million shares for selected investors by way of private placement. In terms of financial results, Radium posted a PAT of RM128 million on the back of a revenue of RM472.81 million for FY2019. Read also:Radium Development inks underwriting agreement with Malacca Securities and CIMB Investment BankRadium Development gets SC's nod to list on Main MarketProperty developer Radium Development seeks Main Market listing

Source: The Edge Markets April 28, 2023 02:34 UTC