Newly formed south-east Asian property investor Tai Zi Capital is looking to raise some £3 million with an IPO on AIM at the end of June.

The shell company intends to grow through acquiring mainly commercial, office and residential real estate as a basis for a rental portfolio. The Hong Kong-based firm will target properties in Hong Kong, Taiwan, Macau and possibly other areas of China.

The board believes these investments will provide attractive revenues and further opportunities for growth through property management services, and plans acquisitions in this field.

The directors, who plan to manage the properties, are eyeing targets, and as yet haven’t entered into negotiations with potential vendors.

Broker Zimmerman Adams International is taking Tai Zi Capita to market, with a submission price of 50p on 6 million shares.