Gold Li Holdings Bhd, a Johor-based property developer, has signed an underwriting agreement with M & A Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.
The IPO involves a public issue of 117 million new shares and an offer for sale of 36 million existing shares by Gold Li and its major shareholders, representing 25.5% of its enlarged share capital of 600 million shares upon listing.
From left: Gold Li executive director and chief operating officer Datin Lau Siew Su, Gold Li managing director Datuk Lee Tiau Huat, M&A Securities head of corporate finance Gary Ting and M&A Securities deputy head of corporate finance Rachel Ho. Pic by Gold Li.
Of the new shares, 30 million (5%) are allocated to the public, while 6 million shares (1%) are reserved for eligible directors, employees, and contributors through a pink form allocation. 42 million shares (7%) will be offered to selected investors via private placement, and 39 million shares (6.5%) are earmarked for Bumiputera investors approved by the Investment, Trade and Industry Ministry. The 36 million shares in the offer for sale will also be placed to Bumiputera investors approved by the ministry.
Under the underwriting arrangement, M & A Securities will cover the shares allocated to the public and eligible persons, while the remaining shares will be placed with selected and Bumiputera investors.
The proceeds from the IPO will primarily be used for working capital to fund ongoing and future projects and to cover listing expenses.
Founded in 1999, Gold Li has a strong presence in Johor, particularly in Muar, Tangkak and Batu Pahat, where it focuses on landed residential developments. As of Oct 31, 2025, the company had completed 110 residential and commercial projects, with 10 ongoing projects, 30 in the pipeline, and 34 parcels of land earmarked for future development.
Managing director Datuk Lee Tiau Huat said the underwriting agreement is a major milestone. “Over the past 27 years, we have built a resilient foundation in the landed residential segment with in-house construction expertise. The IPO proceeds will strengthen our working capital, support upcoming projects, expand our landbank, and facilitate a transition into high-rise developments, ensuring continued growth in Johor’s property market,” he said.
Gary Ting, head of corporate finance at M & A Securities, noted that Gold Li’s track record of over 100 completed projects demonstrates its operational strength and market acceptance. “The group’s integrated model and focus on portfolio diversification provide a solid platform for sustainable value creation,” he added.
