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,In a statement, group managing director Datuk Goh Kang Beng said part of the proceeds raised will be channelled towards the acquisition of land bank in the Klang Valley.

PETALING JAYA: BV Land Holdings Bhd, which will make its debut on Bursa Malaysia’s Leading Entrepreneur Accelerator Platform (Leap) today, plans to raise RM2.58mil from its initial public offering (IPO).

With an offer price of 19 sen per share, the property developer and contractor’s IPO entails the issuance of 13.57 million new ordinary shares, representing 10% of the group’s enlarged share capital of 135.60 million shares.

In a statement, group managing director Datuk Goh Kang Beng said part of the proceeds raised will be channelled towards the acquisition of land bank in the Klang Valley.

He said this is in line with the group’s expansion plan into mixed development projects in the future.

The developments will comprise commercial, retail, entertainment or even transport facilities.

Goh said the group had collectively completed projects with total gross development value (GDV) of RM125.6mil and has two ongoing projects with a total GDV of RM56.1mil.

“The group is optimistic about its strong track record and projects to be launched in the fourth quarter of 2021, worth RM49.4mil, which will comprise affordable houses priced below RM500,000, ” he said.

Goh said the group expects to remain resilient and adaptive in pursuing its expansion plans.


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