Oxley buys 10.07% stake in Aspen Group for $23.28m

The two may enter into a joint venture for Malaysian development projects.

Oxley Holdings subscribed for 97 million new shares in Aspen Group Holdings (AGH) at an issue price of 24 cents each, or $23.28m in total.

According to an announcement, AGH is a Catalist-listed property development group based in Malaysia with a focus on residential and mixed development properties for middle-income mass market purchasers.

Oxley said they may enter into joint ventures for the development of its property development projects in Malaysia or collaborate in other aspects of the business. “The company believes that the group will be able to tap on the experience and expertise of the AGH Group in the Malaysian market,” it added.