PETALING JAYA: Property developer Radium Development Bhd hopes to raise a total of RM434 million in proceeds from its upcoming initial public offering on Bursa Malaysia’s Main Market.
“In the third quarter of 2023, we will unveil our largest undertaking yet – Residensi Desa Timur in Salak South, Kuala Lumpur, with nearly RM1.0 billion DV ,” said Gan. Out of the 868 million new shares to be issued, 273 million shares will be made available to the Malaysian public via balloting. Radium targets to distribute no less than 30% out of net profits to shareholders in each financial year as annual dividends.Radium is confident of achieving success in the future as many of its past projects have enjoyed full take-up rates for launched units.
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