Infinity Development raises $13.7m from Catalist placement

Infinity Development Holdings raised $13.7m from a fully subscribed placement of 35.1 million new shares at $0.39 each for its dual primary listing on the Catalist Board of the SGX-ST, according to a press release.

Trading on the SGX-ST will begin on 3 December 2025 under the ticker “ZBA.” The placement attracted institutional investors including ICH Ascend Open Master Fund VCC, Rockstead Assets Management VCC, Ginko-AGT Global Growth Fund and Asdew Acquisitions Pte Ltd.

Based on the placement price and the post-placement share base of 316 million shares, Infinity Development’s market capitalisation stands at $123.5m. Xandar Capital acted as Sponsor and Issue Manager, while KGI Securities served as Placement Agent for the listing.