PETALING JAYA: Emerging property developer Radium Development Bhd
is closer to a listing on the Main Market of Bursa Malaysia after getting the nod from the Securities Commission to undertake an initial public offering (IPO).
“We are excited to start this new chapter in our journey, drawing from years of experience to strengthen our position in the urban property development space.
“We are committed to providing quality standards in our current and upcoming projects, in keeping with our goal of building good for the community.
“Furthermore, our upcoming IPO on the Main Market would benefit even more stakeholders and the nation in supporting the affordable housing agenda,” its group managing director Gary Gan Kah Siong said in a statement.
Radium said it has successfully delivered high-rise residential projects worth RM1.49bil in gross development value (GDV), all of which are strategically located within Kuala Lumpur city.
As at Aug 31, 2022, the completed projects include Vista Wirajaya, Vista Semarak, Platinum OUG Residence and Vista OUG, were fully sold, while Platinum Splendor Residensi Semarak had a take up rate of 99.93%.
It is currently developing projects with a cumulative GDV of RM1.45bil, scheduled for completion by the financial year ending Dec 31, 2025. Radium aims to be listed in the second quarter of 2023.
