KUALA LUMPUR: Radium Development Bhd’s public tranche of 273 million shares for its initial public offering (IPO) made available for application by the Malaysian public has been fully subscribed.
In a statement today, the property development company said it received a total of 10,496 applications for 279.12 million shares at an issue price of RM0.50 per share.
Group managing director Datuk Gary Gan Kah Siong said that gaining confidence for the public tranche was commendable given the challenging macroeconomic outlook and market sentiment.
"The proceeds from our IPO would better position Radium to grow alongside the recovery of the property segment.
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