KMDI Harta Berhad to raise RM200 million through issuance of redeemable preference shares
It said in accordance with the approval of its constitutional amendment by the Malaysian Companies Commission, it could offer preferential shares to those who were interested.
SHAH ALAM - KMDI Harta Berhad has announced plans to raise up to RM200 million by issuing redeemable preference shares to the public.
In a statement, the real estate construction and development company said it was confident to achieve the fundraising goal before the third quarter of 2025.
It said in accordance with the approval of its constitutional amendment by the Malaysian Companies Commission, it could offer preferential shares to those who were interested.
Complying with regulatory requirements under Sections 229 and 230 of the Capital Marketing and Services Act (CMSA) 2007 (Act 671), the company has lodged an Information Memorandum with the Securities Commission Malaysia.
This, it said would allow KMDI to offer redeemable preference shares to eligible and qualified investors to expand existing capital and investments strategic plan in planning business growth and development.
It said the memorandum aimed to provide explanations and information about investments, the latest investment strategies, as well as attractive potential returns to individuals or corporates who were interested in working with KMDI in the real estate construction and development business.
"KMDI is confident that the real estate construction and development business is a business that can provide risk-free returns to investors to enjoy the results of their investments.
"For now, the gross development value of the KMDI project amounts to RM400 million," it said in the statement.
KDMI said it chose to work with "CL Finance Advisor" to obtain services as a financial corporate advisor to ensure a systematic and dynamic investment journey.
It said it was also optimistic to find opportunities to share with individuals or corporates interested in the business of construction and real estate development.
Meanwhile, KMDI Group corporate communications director Ahmad Mazhar Abdul Aziz said KDMI was determined to list on Bursa Malaysia and issue initial public offerings and "sukuk" in the near future.
