KUALA LUMPUR (April 8): Property developer KTI Landmark Bhd said on Monday that it has secured approval for its initial public offering (IPO) on ACE Market from Bursa Malaysia.

The approval from Bursa Malaysia marks another step forward for the IPO since the Sabah-based company, which also provides construction services for public and private sectors, filed its draft prospectus on July 7, 2023.

“The IPO will enable KTI (Landmark) to tap into the equity capital market for future fundraising and provide us the financial flexibility to pursue future growth opportunities as and when they arise,” its managing director Dr Gordon Loke said in a statement.

Established in 1984, KTI Landmark mainly provides design and construction services to Sabah’s state agency Housing and Town Development Board for urban development and affordable housing for the general public and civil servants’ housing projects, as well as general building construction services.