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Malaysian developer Aspen launches Catalist IPO

Mimi Sabreena 12:40:00 PM Informasi

Malaysia's Aspen (Group) Holdings, a developer of affordable homes and mixed developments, has launched its initial public offering (IPO) on the Catalist board here.

The firm is offering 173.3 million shares at 23 cents each. These include 4.35 million shares for the public and 168.9 million placement shares. The IPO is set to raise net proceeds of $36.72 million, which Aspen plans to use to acquire development land, repay bank borrowings and for working capital.

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