Singapore Exchange (SGX) today welcomed World Class Global Limited to Catalist under the stock code “1E6”.
World Class Global Limited is a real estate company that undertakes property development and property investment in major cities in Australia and Malaysia, specialising in quality residential and mixed use development projects.
Since incorporation, World Class Global has launched three property development projects in Australia. Its first residential property development project, Australia 108, was the tallest building in Melbourne and the tallest residence in the Southern Hemisphere when it was launched in November 2014.
The Group also owns 28 properties in Penang, Malaysia, and has plans to develop acquired land in Malaysia, and in some cases, refurbish existing buildings on these sites, into commercial and/or residential premises.
Zico Capital is the sponsor and issue manager for this IPO, marking its first IPO since its accreditation as a Catalist Full Sponsor in August 2016.
Ng Sheng Tiong, Executive Director and CEO of World Class Global Limited, said, “The IPO will be a landmark step for WCG as we seek to develop our sizeable land bank in Australia and Malaysia to their fullest potential in the next phase of our journey. With the breadth and depth of our management team’s property development experience, I believe the company is well on its way to making its mark as a World Class real estate developer.”
Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX, said, “We are pleased to welcome the listing of World Class Global Limited on Catalist, a property developer with an international presence and established track record in developing quality and well-designed residential properties in Australia and Malaysia. We are also delighted as this is the first IPO managed by Zico Capital, since its accreditation as a Catalist Full Sponsor in August 2016.”
With a market capitalisation of about $240 million, the listing of World Class Global Limited brings the total number of companies listed on Catalist to 194, with a combined market capitalisation of more than $12 billion, and the number of real estate entities listed on SGX to 100, with combined market capitalisation of about $190 billion.
World Class Global Limited opened at $0.27 today.
