Malaysian property developer Antharas increases shares offered by 167% ahead of $15 million US IPO
IPO Overview
Antharas, a full-service community property developer in Malaysia, raised the proposed deal size for its upcoming IPO on Friday.
The Kuala Lumpur, Malaysia-based company now plans to raise $15 million by offering 3.3 million shares at a price range of $4 to $5. The company had previously filed to offer 1.3 million shares at the same range. With the revised offering terms, Antharas will qualify for a US IPO under the Nasdaq’s new listing requirements, which include a minimum float of $15 million worth of shares.
Antharas is full-service community property developer in Malaysia. The company manages all aspects of real estate development and offers a comprehensive range of services to its clients. Currently its property management portfolio consists of one property, which remains partially sold.
Antharas was founded in 2017 and booked $20 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol AAS. D. Boral Capital is the sole bookrunner on the deal.
About the Company
We are a full-service community property developer based in Kuala Lumpur, Malaysia which manages all aspects of real estate development and offers a comprehensive range of services to our clients. As of the date of this prospectus, our property management portfolio consists of one property, which remains partially sold. However, we are involved in every stage of real estate development and our services encompass the entire lifecycle of the development and commercialization of this property, including from the initial conception and planning to overseeing construction, managing sales, and providing property management services. We aim to provide a holistic approach, and to that end our mission is to support innovative living by developing new properties in an all-in-one ecosystem through property technology, or “PropTech,” that we believe will enrich the lives of those residing in our managed properties.
