Despite being Bursa's first listing this year, the property stock closed below its 87 sen offer price.

At the opening bell, Sentoria opened at 84 sen, a discount of three sen over its offer price with 3,000 shares traded.

Its chairman Aznam Mansor said the company was "satisfied" with the opening price, although the public tranche was oversubscribed by 5.4 times.

At the press conference, Aznam said Sentoria is in talks with several parties to expand its property development outside its stronghold in Kuantan, Pahang.

"We talk to a lot people so long as we think it would enhance shareholders value and add value to the company," said Aznam.

Earlier, Aznam neither confirmed nor denied reports that Sentoria was in talks with state-owned investment fund Permodalan Nasional Bhd (PNB) to develop an integrated resort (IR) city in Morib, Selangor.

"At this stage, we cannot conclude anything to justify to make an announcement," he said after the company listing yesterday.

He said it is Sentoria's ambition to venture into the lucrative property market in the Klang Valley.

"Moving forward, our way of developing (property) outside Kuantan is via a joint venture partner.

"That is what we are looking for," he added.

However, he said, getting into the Klang Valley property market is difficult due to many existing competitors.

He hopes its listing would give it the visibility and help attract potential investors and business partners.

Currently, Sentoria has 95.99ha land, mainly in Kuantan and at its flagship Bukit Gambang Resort City (BGRC), with an estimated gross development value (GDV) of RM1.8 billion.

Sentoria plans to boost its recurring income stream by adding new attractions such as Safari Park, Aquarium Park and Adventure Land at its flagship Bukit Gambang Resort City (BGRC) in Kuantan, Pahang.

Upon completion by 2018, Sentoria hopes to attract up to two million visitors annually to its multiple attractions at BGRC.

Sentoria is now undertaking a RM735 million GDV project called the Global Heritage within the BGRC.

It will boast up to 1,070 units of themed resort villas and a five-star 273-suite boutique hotel on a 46.17ha land.