Parkland Berhad, an integrated township and property developer, has received approval from the Securities Commission Malaysia for its initial public offering (IPO) and proposed listing on the Main Market of Bursa Malaysia Securities Berhad. This move is set to enhance the company’s development plans and expand its land bank.
With 18 years of experience in construction and property development, Parkland has launched projects with a total gross development value of RM7.4b. The company operates in Johor, Melaka, and Selangor, with a strong pipeline of planned developments valued at RM5.05b, 75.5% of which are in Johor. Current projects include Taman Kluang Perdana and Bandar Botani Parkland.
In addition to its core business, Parkland has ventured into renewable energy through a joint venture with Xinyi Power Station Development, developing a 99.99 MW solar plant in Johor, expected to start operations in early 2027.
The IPO will comprise 621.54 million shares, representing 26.3% of Parkland’s enlarged share capital. Of these, 550.74 million shares will be available to institutional and selected investors, whilst 70.80 million shares will be offered to the Malaysian public. Proceeds will primarily fund land acquisitions and working capital.
Datuk Tan See Sen, Group Managing Director, stated, “The SC’s approval marks a significant milestone in Parkland’s journey towards listing on the Main Market.” Hong Leong Investment Bank Berhad and AmInvestment Bank Berhad are advising on the IPO.
