SGX welcomes Astaka Holdings to Catalist
The listing follows the acquisition of Astaka Padu Limited by E2-Capital Holdings Limited. Following the acquisition, E2-Capital Holdings Limited will change its name to Astaka Holdings Limited. As part of the exercise, a placement was made by the company raising about S\\$58 million. Upon completion of the exercise, the enlarged entity would have an estimated market capitalisation of about S\\$449 million.
Astaka Holdings Limited is a Malaysia-based property developer that focuses on high-end projects in Iskandar Malaysia. The Group is currently developing 1 Bukit Senyum in two phases – (i) freehold service apartment towers which are envisaged to be one of the tallest buildings and landmarks in the Iskandar region; and (ii) a freehold integrated development project comprising a retail mall, a five-star hotel, convention centre, office space, service apartments and commercial suites.
Dato Zamani bin Kasim, the Group’s Executive Director and Chief Executive Officer said, “Today commemorates a strategic milestone of Astaka Holdings Limited. Riding on the transformation of Iskandar region into a business and lifestyle hub, we shall endeavour to benefit from the rising demand for quality commercial, industrial and residential properties in the Iskandar region of Johor, Malaysia.”
“The development in the Iskandar region remains healthy and promising and it has successfully attracted substantial committed investments. I believe that our expertise and experience will place us in a good position to leverage on opportunities in the economic development region.”
Mohamed Nasser Ismail, Head of SME Development & Listings, SGX, said, “We are pleased to welcome Astaka to Catalist, and look forward to supporting the company in its expansion plans. The addition of Astaka to Catalist will provide investors an avenue to invest in the Iskandar region of Johor, Malaysia.”
The listing of Astaka brings the total number of real estate companies on SGX to 50, with a combined market capitalisation of S\\$95 billion. The listing will also bring the total market capitalisation of the 169 companies listed on Catalist to S\\$10 billion.
Astaka opened at \\$0.245 today.