Malaysian property developer Atsaka Holdings debuts on Catalist

Its portfolio focuses on Iskandar.

Atsaka Holdings, a Malaysia-based property developer that focuses on high-end projects in Iskandar, launched its initial public offering (IPO) on Catalist today.

The group has an estimated market capitalisation of about $449m. It is currently developing 1 Bukit Senyum in two phases. The first phase involves freehold service apartment towers which are envisaged to be one of the tallest buildings and landmarks in the Iskandar region, while the second phase involves a freehold integrated development project made up of a retail mall, a five-star hotel, convention centre, office space, service apartments and commercial suites.

The listing of Astaka brings the total number of real estate companies on SGX to 50, with a combined market capitalisation of $95 billion.