Singapore Exchange (SGX) today welcomed Pacific Star Development Limited to Catalist under the stock code 1C5.
Pacific Star Development Limited is a Singapore-based premier property developer of award-winning mixed-used projects and prime residential developments in key gateway cities across ASEAN countries.
Its projects on hand include Puteri Cove Residences and Quayside in Iskandar Malaysia, and The Posh Twelve in Bangkok, Thailand, that target young and affluent middle-class home buyers.
Glen Chan, CEO and Managing Director of Pacific Star Development Limited, said:
Our comprehensive knowledge on development management as well as extensive regional network from our developing projects positions us as a distinct player in the property development industry, and puts us in good stead to grow our footprint in ASEAN. We aim to expand upon our brand equity in the region and validate the enthusiastic support we have received from the investment community. It is with great pleasure that we share this milestone with all our shareholders, and with the community’s support, we will focus on enhancing our shareholders’ value.
Mohamed Nasser Ismail, Head of Equity Capital Market (SME) and Head of Capital Market Development, SGX, added:
We are delighted to welcome Pacific Star Development Limited to Catalist, providing investors an opportunity to invest in the growing affluence of the ASEAN market, which is one of the world’s largest markets with a combined population of more than 600 million. Pacific Star Development Limited ventured out as a real estate investment manager and has since evolved into a premier real estate developer. We look forward to supporting the company as it looks to tapping on the favourable demographic trends and rapid urbanisation of ASEAN cities.
With a market capitalization of about $127 million, the listing of Pacific Star Development Limited brings the total number of real estate companies listed on SGX to 54, with a combined market capitalization of about S$90 billion, and the total number of companies listed on Catalist to 188, with a combined market capitalization of $10 billion.
Pacific Star Development Limited opened at $0.33 today.