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ASTAKA Holdings, which was listed on the Singapore Exchange's Catalist board on Monday following the acquisition of Astaka Padu Limited by E2-Capital Holdings Limited, opened at 24.5 Singapore cents on Monday.
E2-Capital Holdings Limited changed its name to Astaka Holdings following the acquisition. Upon completion of a placement exercise raising about S$58 million, the enlarged entity would have an estimated market capitalisation of about S$449 million.
Astaka Holdings is a Malaysia-based property developer that focuses on high-end projects in Iskandar Malaysia. It is currently developing 1 Bukit Senyum in two phases - the first phase includes freehold service apartment towers, and the second is a freehold integrated development project comprising a retail mall, a five-star hotel, convention centre, office space, service apartments and commercial suites.