Tambun Indah Land Bhd (TILB), a leading property developer in Penang, is scheduled for a main-market listing on 18th January 2011. The company was established in 1995, will continue to focus on the property market in Penang but also eyeing for landbank in the Klang Valley like in Shah Alam and Kajang.
Currently, TILB has enough funds for expansion but decided to go for a listing as it wants to raise the company’s profile and build confidence among its associates and customers.
Tambun Indah’s IPO consists of a public issue of 32 million new ordinary shares at an IPO price of 70 sen per share with RM0.50 par value.