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Malaysia-based affordable housing developer Aspen lists on Catalist

Adela Megan Willy
Adela Megan Willy7/31/2017 08:00 AM GMT+08  • 5 min read
Malaysia-based affordable housing developer Aspen lists on Catalist
(July 31): Property developer Aspen (Group) Holdings, which focuses on affordable housing, joins the growing list of Malaysia-based companies listing on the Singapore Exchange. 
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(July 31): Property developer Aspen (Group) Holdings, which focuses on affordable housing, joins the growing list of Malaysia-based companies listing on the Singapore Exchange.

Scheduled to list on July 28 on the Catalist board, Aspen offered 173.3 million new shares in its IPO. Of that, 4.3 million shares were offered to the public, while the remaining 168.9 million shares were placed out to investors, which included institutions. The public offer was 7.8 times subscribed and the placement was fully subscribed.

Based on its issue price of 23 Singapore cents, Aspen will raise $36.7 million. Of that, $25 million has been allocated for acquisition of land and future developments, and the balance for the repayment of bank borrowings, working capital and listing expenses.

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