SINGAPORE (July 19): Malaysia-based property developer Aspen (Group) Holdings on Wednesday launched its $39.9 million initial public offering (IPO) for listing on the Singapore Exchange (SGX).

Aspen is offering nearly 173.3 million new shares at 23 cents each. This consists of an international placement of just over 168.92 million shares, and a public tranche of nearly 4.35 million shares for retail investors in Singapore.

“The listing will further raise Aspen’s profile as we forge ahead with our growth plans, while remaining committed to deliver quality residential and mixed-developments at affordable prices,” says Dato’ Murly, Aspen’s executive director, president, and group CEO.

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