Business
First Day of Dealings
First Day of Dealings.
About this update from Aseana Properties Limited
[{"type":"text","content":"\n Aseana Properties Limited\n05 April 2007\n\n\nDate: 5 April 2007\n\nOn behalf of: Aseana Properties Limited ('Aseana' or the 'Company')\n\n\n\n\nAseana Properties Limited\n\n• First day of dealings on the Main Market of the London Stock Exchange\n\n• Placing raised US$162million\n\n\nAseana Properties Limited, an Asian property developer investing in Malaysia and\nVietnam, today announces that its shares have been admitted to the Official List\nand will begin trading on the Main Market of the London Stock Exchange at 8am\ntoday. The shares will be traded under the symbol LSE: ASPL.\n\nThe Company has been established to take advantage of property development\nopportunities in Malaysia and Vietnam. Ireka Development Management ('Ireka')\nhas been appointed as manager with responsibility for the day-to-day management\nof the Property Portfolio and the introduction and facilitation of new\ninvestment opportunities.\n\nAseana's investment objective is to provide Shareholders with an attractive\noverall total return achieved primarily through capital appreciation by\ninvesting in property in Vietnam and Malaysia. The Company intends to achieve\nits investment objective through the acquisition, development and redevelopment\nof upscale residential, commercial and hospitality projects leveraging on the\nManager's experience in these sectors.\n\nFairfax I.S. PLC acted as the lead financial adviser and broker for the Placing.\n\nCommenting on Company's admission to trading on the London Stock Exchange, Dato'\nMohammed Azlan bin Hashim, Chairman of Aseana Properties Limited, said:\n\n'An exciting opportunity exists in the Malaysian and Vietnamese real estate\nmarkets, driven by factors such as the growing young, middle class population\nand increasing interest from overseas companies and investors. The Manager,\nIreka, has a long and proven track record of award-winning, prestigious\ndevelopments in Malaysia and we strongly believe this can be replicated in\nVietnam, where the market is in its infancy.\n\n'The response to the fundraising has been very positive and we are delighted to\nbe joining the Main Market of the London Stock Exchange today.'\n\n\nKey points\n\n\n\n• Ireka Development Management, the Manager, is a wholly-owned subsidiary \n of Ireka Corporation Berhad, a company listed on the Bursa Malaysia\n since 1993, whi...