[Photo Credit: Bursa Malaysia]

ZUL RAFIQUE & partners’ Capital Markets team, David Lee Lai Huat, Harpreet Kaur and Thilipkumar Ragavan acted as the legal counsel for BV Land Holdings Berhad which made a successful debut on 9 April 2021 into Bursa Malaysia’s Leading Entrepreneur Accelerator Platform (LEAP) to raise RM2.58mil from its initial public offering (IPO).

The property developer and contractor's IPO involves the issuance of 13.57 million new ordinary shares at a price of 19 sen per share, representing 10% of the group's expanded share capital of 135.60 million shares. Group managing director Datuk Goh Kang Beng said in a statement that a portion of the funds raised would be used to acquire land bank in the Klang Valley.

The company has completed projects worth a total of RM125.6 million in contract value and gross development value (GDV) and has two ongoing projects worth a total of RM56.1 million in contract value and GDV. It also stated that new projects with a GDV of RM49.4 million will be launched in the fourth quarter of 2021, including affordable homes priced below RM500,000.

The IPO was also featured in The Star on 9 April 2021, HERE.

For more insight into this area of law, please contact our Partners in the Capital Markets Practice Group:
Jerry Ong Kok Wah
Cathryn Chay
David Lee Lai Huat

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