Parkland gets approval for Bursa Main Market IPO
The offering comprises 468.14 million new shares and 153.40 million existing shares, with public-issue proceeds mainly earmarked for land purchases and working capital.
Malaysia’s Securities Commission has approved property developer Parkland Bhd’s proposed IPO and Main Market listing on Bursa Malaysia. The offering totals 621.54 million shares, equivalent to 26.3 per cent of its enlarged share capital of 2.36 billion shares at listing.
Parkland plans to issue 468.14 million new shares, while shareholders will offer 153.40 million existing shares for sale. Funds raised from the new shares will mainly finance land acquisitions and working capital for development projects.
An allocation of 550.74 million shares is intended for institutional and selected investors, including Bumiputera investors approved by the Investment, Trade and Industry Ministry. Another 70.80 million shares are allocated for public balloting, eligible employees and people who have contributed to Parkland’s success.
Hong Leong Investment Bank Bhd is advising on the IPO. It will also share placement and underwriting responsibilities with AmInvestment Bank Bhd.
Parkland’s planned development pipeline stood at RM5.05 billion as at May 25, 2026, with about 75.5 per cent in Johor. The developer operates in Johor, Melaka and Selangor and has launched project phases carrying a combined gross development value of RM7.4 billion.
The group has also entered renewable energy through a joint venture with Xinyi Power Station Development (Malaysia) Sdn Bhd. The venture has secured development of a 99.99-megawatt solar plant in Tangkak, Johor, with commercial operations expected to start in the first quarter of 2027.
