Listing Sought: Main Market
Issue Price: RM 1.19
Par Value: RM 0.01
Offer Period Open: 24-07-14
Offer Period Close: 4-08-14
Tentative listing date: 15-08-14
Number of shares:
Public Issue: 20,000,000
Offer for Sale: -
Private Placement: 980,000,000
Stock Code: REACH
PUBLIC ISSUE OF 1,000,000,000 NEW ORDINARY SHARES OF RM0.01 EACH IN OUR COMPANY (“PUBLIC ISSUE SHARES”), TOGETHER WITH 1,000,000,000 FREE DETACHABLE WARRANTS (“WARRANTS”) ON THE BASIS OF 1 WARRANT FOR EVERY 1 PUBLIC ISSUE SHARE SUBSCRIBED, AT AN ISSUE PRICE OF RM0.75 PER PUBLIC ISSUE SHARE PAYABLE IN FULL UPON APPLICATION COMPRISING:
980,000,000 PUBLIC ISSUE SHARES TOGETHER WITH 980,000,000 WARRANTS ON THE BASIS OF 1 WARRANT FOR EVERY 1 PUBLIC ISSUE SHARE SUBSCRIBED BY WAY OF PLACEMENT TO SELECTED INVESTORS; AND
20,000,000 PUBLIC ISSUE SHARES TOGETHER WITH 20,000,000 WARRANTS ON THE BASIS OF 1 WARRANT FOR EVERY 1 PUBLIC ISSUE SHARE SUBSCRIBED AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC,
IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD
The company was incorporated in Malaysia under the Companies Act 1965 as a private limited company on 7 February 2013 under the name of Reach Energy Sdn Bhd. On 2 August 2013 thecompany converted into a public company and renamed Reach Energy Berhad. Reach Energy’s securities (shares and warrants) have been classified as Shariah-compliant securities.
Reach Energy Berhad intend to list on the Main Market of Bursa Securities as a Special Purpose Acquisition Company (SPAC). A SPAC is a company which has no operations or income generating business at the point of Initial Public Offering (IPO) but undertake an IPO for the purposes of raising funds to acquire operating companies or businesses, otherwise known as a Qualifying Acquisition (QA).
Address & Contact:
Level U6, Block D3, Solaris Dutamas,
No.1, Jalan Dutamas 1,
50480 Kuala Lumpur Tel: +603-6206 4928 Fax: +603-6206 4929 Email: firstname.lastname@example.org Website: www.reachenergy.com.my
In the News: Reach Energy aims to raise RM750 million from IPO
Reach Energy Bhd (Reach Energy), the latest oil & gas special purpose acquisition company (SPAC) which is en route for a listing on the Main Market of Bursa Malaysia, is aiming to raise RM750 million from its initial public offering (IPO) exercise.
This will subsequently make it the largest SPAC to be listed on Bursa Malaysia to date.
The company had recently announced that it has obtained the approval from the Securities Commission Malaysia (SC) for its listing exercise.
According to a press statement, the company expects to complete the flotation exercise by third quarter of 2014.
“Our management team members have an average of over 30 years of experience in the oil & gas industry worldwide, especially in the Asia Pacific region, encompassing the entire value chain of the upstream sector of the industry.
“With the industry-hardened management team and the board, we believe that we will be able to secure our targets and deliver much shareholder value timely,” Reach Energy managing director Ir Shahul Hamid Mohd Ismail said.
The company targets to raise RM750 million from its IPO exercise, which will make Reach Energy the largest SPAC to be listed on Bursa Malaysia to date. Reach Energy is syariah compliant as approved by the syariah Advisory Council of the SC.
According to the listing plan, approximately 94.75 per cent of the proceeds raised from the IPO exercise has been earmarked for the acquisition of target assets and/or the company and the remaining 5.25 per cent for working capital and listing expenses.
Of note, Reach Energy is the fourth oil & gas SPAC to be listed on the exchange after the successful listing of Hibiscus Petroleum Bhd, CLIQ Energy Bhd and Sona Petroleum Bhd.
Hong Leong Investment Bank Berhad is the Principal Adviser, Placement Agent and Underwriter for Reach Energy’s IPO exercise.
Reach Energy’s IPO exercise provides an issue price of RM0.75 per public issue share which comprises 980 million public issue shares together with 980 million warrants on the basis of one warrant for every one public issue share subscribed by way of placement to selected investors.
The exercise also comprises of 20 million public issue shares together with 20,000,000 warrants on the basis of one warrant for every one public issue share subscribed available for application by the Malaysian public.
fyda74https://uk.finance.yahoo.com/news/malaysias...-013836862.html Malaysia's Securities Commission said in December that SPAC funds from an IPO must not be used to pay remuneration for the management team until an asset acquisition is completed. The company's management also cannot sell their shares in the SPAC until assets are generating income. The firm's management, whose experience and track record must fall in line with the SPAC's objectives, must hold at least a 10 percent stake to ensure a "meaningful financial participation". Reach Energy is led by Managing Director and Chief Executive Officer Shahul Hamid, who has had senior roles at Esso, Shell and Petroleum Development Oman (PDO). Other top officials include former staff from Petronas, Schlumberger and Sime Darby. According to Reach Energy's IPO prospectus, Malaysia's pilgrimage fund Lembaga Tabung Haji, CIMB-Principal Asset Management Bhd, and Hong Leong Asset Management are among the cornerstone investors in the sharia-compliant company. "This is seen as the safest SPAC to date, because it is the first one to genuinely attract institutional attention here," said a banker who was involved in the Reach Energy IPO.
GPS777Friday....flyday, must Take profit first. Ha....ha..... better than Cliq
think_bigWhy so worry.they already recognized company they want to acquire.the acquisition negotiation will commencing as soon as possible.just put your faith in this company.it will be better than sona and much better than cliq.
vinvinYes, keep for long term for better returns...............................trade at own risk
speakupInstitutions & funds investors of Reach: Lembaga Tabung Haji Koperasi Permodalan Felda Malaysia Bhd Pelaburan Mara Bhd Norges (world’s largest sovereign wealth fund) CIMB Principal Asset Management Hong Leong Asset Management MTD Capital Kenanga Investors Areca Asset Management Allianz Investment Chua Sai Men (Chua Ma Yu's son) Poh Yang Hong (Tan Sri Quek's associate)
Listing Sought: Main Market
Issue Price: RM 1.19
Par Value: RM 0.50
Offer Period Open: 7-07-14
Offer Period Close: 14-07-14
Tentative listing date: 23-07-14
Number of shares:
Public Issue: 21,200,000
Offer for Sale: 35,950,000
Private Placement: 32,400,000
Stock Code: SASBADI
INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:
(I) PUBLIC ISSUE OF 21,200,000 NEW ORDINARY SHARES OF RM0.50 EACH (“SHARES”) IN THE FOLLOWING MANNER:
6,350,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE PUBLIC;
5,700,000 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;
9,150,000 NEW SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS; AND
(II) OFFER FOR SALE OF UP TO 35,950,000 EXISTING SHARES IN THE FOLLOWING MANNER:
12,700,000 EXISTING SHARES BY WAY OF PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY;
23,250,000 EXISTING SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS;
AT AN ISSUE/OFFER PRICE OF RM1.19 PER SHARE, PAYABLE IN FULL UPON APPLICATION
Sasbadi Holdings Berhad, an investment holding company, engages in the publishing of education materials in Malaysia, Brunei, Singapore, and the Philippines. It publishes printed educational materials, including national school curriculum based educational materials comprising textbooks, revision guides, workbooks, assessment books, model test papers, past year examination papers, and readers covering various topics and subjects; and supplementary educational materials, such as children’s fiction and informational books, teaching guides, language guides, and glossaries, as well as logbooks for recording co-curricular activities.
The company also publishes various online educational resources, such as instant assessment generator to create assessment and test papers for teachers; i-learn, an online learning platform for students to access its database of resources covering various subjects; i-teach, a teaching platform for teachers equipped with teaching resources and tools; and iPBS, a software tool for teachers to creat materials for lessons and assessment papers based on the new school based assessment format, as well as publishes general title books.
In addition, it is involved in the distribution of applied learning products consisting of miniature building blocks and mechanical, electrical, and electronic components, as well as devices for measuring and analyzing live signals; and software to create measurement and control systems. Further, the company supplies electronic dictionaries; distributes third party publications; and trading of paper products. It serves retail bookstores, dealers, wholesalers, ministry of education, publishers, and schools. The company was founded in 1985 and is headquartered in Petaling Jaya, Malaysia.
Address & Contact:
No.12, Jalan Teknologi 3/4,
Taman Sains Selangor 1, Kota Damansara,
47810 Petaling Jaya,
Selangor Darul Ehsan.
In the News: Sasbadi aims to raise RM25.23 million from IPO
Sasbadi Holdings Bhd (Sasbadi) aims to raise RM25.23 million from its initial public offering (IPO) which will be used for the establishment of applied learning centres, part-financing of proposed acquisition of publishing businesses, as well as financing of proposed acquisition of an office cum warehouse building. The remainder of the IPO proceeds will be used for working capital and listing expenses.
This was highlighted during its prospectus launch yesterday in conjunction with its listing of and quotation for its entire issued and paid-up ordinary share capital on the Main Market of Bursa Malaysia Securities Bhd (Bursa Malaysia).
Sasbadi is one of the leading educational publishers in Malaysia, with 29 years of experience in the industry.
Managing director of Sasbadi, Law King Hui said, “This marks a significant milestone for us because we are now able to offer a chance to the general public as well as our employees, customers and others who have contributed to our success, to participate in the Group’s equity as we aim for greater financial success.
“Malaysia is a steadily growing and developing nation. With the government’s Vision 2020, which seeks to make our country a fully developed nation by the year 2020, there is a clear need for continued development of our education system in order to produce the future leaders to drive this ambition.
“Recognising this, we intend to hasten our growth in order to play a significant role in supporting the nation’s vision and will be further expanding our current resources to achieve this.” Law continued.
Sasbadi’s IPO entails a public issue of 21.20 million new ordinary shares of RM0.50 each with 6.35 million new shares available for application by the public.
Meanwhile, 5.7 million new shares will be available for application by the group’s eligible directors, employees and persons who have contributed to the success of the group. Finally, 9.15 million new shares will be made by way of placement to selected investors.
In addition, the IPO also includes an offer for sale of up to 35.95 million existing shares in the following manner: 12.7 million existing shares by way of placement to Bumiputera investors approved by the Ministry of International Trade and Industry and 23.25 million existing Ssares by way of placement to selected investors.
Alliance Investment Bank Berhad is acting as the principal adviser, underwriter and placement agent for this IPO exercise.
The prospectus launch was graced by Sasbadi independent non-executive director Lim Hun Soon, shief operating officer, Law En Ruey, executive director Lee Swee Hang, chief executive officer Mahesh P. Rupawalla, independent non-executive chairman Datuk Salleh Mohd Husein, executive director Lee Eng Sang and independent non-executive director Datuk Noor Rezan Bapoo Hashim.
Offer Period Open: 30-06-14
Offer Period Close: 16-07-14
Tentative listing date: 25-07-14
Number of shares:
Public Issue: 46,500,000
Offer for Sale: 14,660,000
Private Placement: 26,860,000
Stock Code: HHGROUP
INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:
(I) PUBLIC ISSUE OF 46,500,000 NEW ORDINARY SHARES OF RM0.10 EACH IN THE FOLLOWING MANNER:
7,000,000 NEW ORDINARY SHARES OF RM0.10 EACH AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;
5,000,000 NEW ORDINARY SHARES OF RM0.10 EACH AVAILABLE FOR APPLICATION BY OUR ELIGIBLE EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;
12,200,000 NEW ORDINARY SHARES OF RM0.10 EACH BY WAY OF PRIVATE PLACEMENT TO SELECTED INVESTORS; AND
22,300,000 NEW ORDINARY SHARES OF RM0.10 EACH BY WAY OF PRIVATE PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND
(II) OFFER FOR SALE OF 14,660,000 EXISTING ORDINARY SHARES OF RM0.10 EACH BY WAY OF PRIVATE PLACEMENT TO SELECTED INVESTORS;
AT AN ISSUE/OFFER PRICE OF RM0.45 PER SHARE PAYABLE IN FULL UPON APPLICATION
Heng Huat Resources Group Berhad, an investment holding company, engages in the manufacture and sale of mattresses and related products; and manufacture and trade of coconut and oil palm biomass materials in Malaysia. It offers fiber and other mattresses and bedding accessories, including mattresses, divans, and headboards under the Fibre Star brand name; and cushions, pillows, and bolsters under the Xiong Mao brand name to furniture retailers. The company also operates as an original equipment manufacturer of fiber mattress for various local brands. In addition, it provides oil palm empty fruit bunch fiber and coconut fiber for various applications, including mattress, briquette, coconut fiber sheet, and geotextile, paper pulp, landscaping, and horticulture; coconut peat for fertigation and soil conditioning applications; and coconut fiber sheets for mattress. Further, Heng Huat Resources Group Berhad exports its products to China. The company is headquartered in Sungai Bakap, Malaysia.
Address & Contact:
No. 2945, (Plot A2), Jalan Sungai Baong,
Kawasan Perindustrian Perabut Sungai Baong,
MK 5, 14200 Seberang Perai Selatan,
Pulau Pinang, Malaysia.
In the News: Heng Huat plans to extend its geographical footprint to China
PETALING JAYA: Heng Huat Resources Group Bhd, which aims to raise RM20.93 million proceed from its initial public offering, plans to extend its geographical footprint in China to tap the growing demand for oil palm empty fruit bunch fibre (EFB).
In a statement yesterday, Heng Huat said its export to China has more than doubled in recent years comprising primarily EFB fibre to RM40.7 million in the financial year ended Dec 31, 2013 from RM18.7 million in FY2011.
"It is timely for us to extend our geographical footprint by including China as our expansion strategy. Our success thus far in penetrating the huge Chinese market with our exports says as much the unabated demand for our EFB fibre in the country as it does our product quality," said co-founder and managing director of Heng Huat, H'ng Choon Seng.
"With the planned set up of a subsidiary in China, we hope to not only strengthen our network amongst the industrial users, but also ride ahead the market trends as we cater our innovation initiatives to meet the market demand," he said.
In FY2013, he said Heng Huat's exports to China made up about 55.2% of the Group's revenue of RM73.7 million.
H'ng said the company plans to set up the subsidiary company in the southern region of China by the first quarter of 2015, subject to obtaining the relevant regulatory approvals from the China authorities.
Established since 2007, Heng Huat currently has three oil palm biomass processing facilities in Selama, Kedah, and in Seberang Prai Selatan, Penang, with a 20-line processing capacity of approximately 100,500 metric tonnes of EFB fibre per annum.
He said it also has a coconut biomass processing plant in Bachok, Kelantan, in addition to a production plant in Seberang Prai Selatan, Penang for downstream manufacturing of mattresses and related products.
"With sizable supply of EFB in Malaysia, coupled with our processing capacity, we are positive that our direct presence in China will help in scaling up the group's exports," he added.
Heng Huat, which is slated to be listed on the ACE Market of Bursa Malaysia on July 25, plans to allocate some RM4 million of its RM20.93 proceed for capital expenditure, RM4.55 million for working capital while the remaining RM9.38 million and RM3 million would be allocated for the repayment of bank borrowings and defraying listing expenses respectively.
Listing Sought: Main Market
Issue Price: RM 1.25
Par Value: RM 0.50
Offer Period Open: 26-06-14
Offer Period Close: 3-07-14
Tentative listing date: 17-07-14
Number of shares:
Public Issue: 52,140,000
Offer for Sale: 49,450,000
Private Placement: 75,184,000
Stock Code: TMAKMUR
INITIAL PUBLIC OFFERING OF 101,590,000 ORDINARY SHARES OF RM0.50 EACH IN TANAH MAKMUR BERHAD (FORMERLY KNOWN AS KREATIF SELARAS SDN BHD) (“TANAH MAKMUR”) (“IPO SHARES”)
IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE ORDINARY SHARES OF RM0.50 EACH IN TANAH MAKMUR (“SHARES”) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES
BERHAD COMPRISING AN OFFER FOR SALE OF 49,450,000 EXISTING SHARES AND A PUBLIC ISSUE OF 52,140,000 NEW SHARES, IN THE FOLLOWING MANNER:
(I) INSTITUTIONAL OFFERING OF 75,184,000 IPO SHARES TO MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS AT RM1.25 PER IPO SHARE; AND
(II) RETAIL OFFERING OF 26,406,000 IPO SHARES TO THE ELIGIBLE DIRECTORS AND EMPLOYEES, AND ELIGIBLE PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF TANAH MAKMUR AND ITS SUBSIDIARIES, AND THE MALAYSIAN PUBLIC, AT RM1.25 PER IPO SHARE PAYABLE IN FULL UPON APPLICATION,
SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS
Tanah Makmur Berhad was incorporated in Malaysia under the Act as a private limited company on 18 December 2008 under the name of Kreatif Selaras Sdn Bhd. It commenced business on 5 May 2009.
On 17 October 2013, the company name was changed to Tanah Makmur Sdn Bhd and on 29 November 2013, the Company was subsequently converted into a public limited company and assumed its present name of Tanah Makmur Berhad.
Tanah Makmur Berhad is principally involved in the cultivation of oil palms and its ancillary activities comprising the operation of our palm oil mill and compost plant. The Group is also involved in other non-oil palm related activities such as property development in Pahang, Malaysia.
Bangunan Kurnia Setia, No. 1, Jalan Besar, 25000, Kuantan,
Pahang Darul Makmur.
Tel : +609 514 8866 Fax : +609 514 8822
In the News: Tanah Makmur IPO at RM1.25 per share
KUALA LUMPUR: Pahang-based plantation player Tanah Makmur Bhd has priced its initial public offer (IPO) at RM1.25 per share as it seeks a listing on the Main Market of Bursa Malaysia Securities. According to its prospectus issued on Thursday it said the IPO comprised of 101.59 million shares of 50 sen each.
Tanah Makmur took over plantation-based Kurnia Setia Bhd four years ago, is set to make its debut on the Main Market of Bursa Malaysia. The company is seeking a listing as a plantation and property player as opposed to Kurnia Setia that was a pure plantation outfit.
Its IPO comprised of an offer for sale of 49.45 million existing shares and a public issue of 52.14 million new shares. Tanah Makmur said the institutional tranche of 75.18 million shares would be offered to Malaysian institutional and selected investors at RM1.25 per share. The retail offering of 26.40 million IPO shares would be offered to the eligible directors, employees and eligible persons and the Malaysian public at RM1.25 per share.
fifijalalmaybank IB TP 1.63. Both Bplant and Icon goreng what. price shot up at the early morning trade. that's the definition of goreng.
azlan88It won't be as bad as BPlant. Boustead make tons of money by pricing their BPlant IPO at top price (more than 15x PE) while Tanah Makmur is only priced at 10x PE (the average plantation company are priced more than 10x in this current high CPO price). Boustead only spend few hundred millions to privatize Boustead Reit and now their holding in BPlant is more than RM1.5b, and plus they netted few hundred millions from share sale.
After going through the Tanah Makmur Prospectus, I can say Tanah Makmur is quite good. The oil palm tree profile is actually better than BPlant, only 18.7% of trees are above 19 years. 50% of trees are between 4 - 18 years which is good in the current high CPO price. The rest 31% is below 4 years which provides upside in future earnings, should the current high CPO sustains for many years to come.
As for their property play, GDV of KotaSAS might jump to RM3 billion from RM1.5 billion should the Pahang government decides to relocate their new administrative building in KotaSAS. I believe with connection to Pahang Royalty as their shareholders, this will happen. You know what I mean. haha
Don't forget that, their landbank in KotaSAS (which they said will not interfere with KotaSAS property development)contain more than 1.4 million tonnes of bauxite deposit and they have made smooth progress to monetize on this deposits since early this year.
Below are some TP provided by research houses. CIMB 1.88 MBB 1.63 JF Apex 1.51 TA 1.48
What say you?
twimGood buy. Try to get below rm1.60 still ok for me.
Listing Sought: Main Market
Issue Price: RM 0.54
Par Value: RM 0.20
Offer Period Open: 11-06-14
Offer Period Close: 18-06-14
Tentative listing date: 30-06-14
Number of shares:
Public Issue: 90,000,000
Offer for Sale: 55,000,000
Private Placement: 114,500,000
Stock Code: ECONBHD
PUBLIC ISSUE OF 90,000,000 NEW ORDINARY SHARES OF RM0.20 EACH IN ECONPILE HOLDINGS BERHAD ("SHARES") AT AN ISSUE PRICE OF RM0.54 PER SHARE ALLOCATED IN THE FOLLOWING MANNER:-
I. 27,000,000 SHARES FOR APPLICATION BY THE MALAYSIAN PUBLIC;
II. 3,500,000 SHARES FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES OF ECONPILE HOLDINGS BERHAD AND ITS SUBSIDIARY COMPANIES ("GROUP") AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE GROUP;
III. 47,500,000 SHARES FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED INVESTORS; AND
IV. 12,000,000 SHARES FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY
OFFER FOR SALE OF 55,000,000 SHARES AT AN OFFER PRICE OF RM0.54 PER SHARE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY
IN CONJUNCTION WITH THE LISTING OF ECONPILE HOLDINGS BERHAD ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD
Econpile (M) Sdn Bhd was incorporated as a limited company by its founder Mr. The Cheng Eng in September 1987, and over the years through the concerted effort of the team of professionals and highly trained personnel, the company has grown to become the leading specialist foundation and civil engineering contractor in Malaysia.
Econpile (M) Sdn Bhd now owns a large fleet of heavy machineries including top range hydraulic boring rigs, heavy duty crawlers cranes and piling accessories. With a team of committed workforce, the company has successfully undertaken and completed many challenging foundation works within the planned schedule.
a) Name :
ECONPILE (M) SDN BHD
b) Business Registration No :
c) Date Incorporated :
11th September 1987
d) Registered Address :
Level 18, The Gardens North Tower, Mid Valley City, Lingkaran Syed Putra, 59200 Kuala Lumpur
e) Business Address :
55C, Jalan Sungai Besi, 57100 Kuala Lumpur.
f) Telephone No :
g) Fax No :
h) E-mail :
In the News - Econpile to raise RM48.6mil from IPO
Pilling and foundation specialist Econpile Holdings Bhd plans to raise RM48.6mil from its initial public offering (IPO) exercise.
The company, en route to a listing on the Main Market of Bursa Malaysia on June 30, has launched its prospectus on Wednesday.
"We have laid a strong foundation thus far, and secured a reputable customer base in the construction and property development sector," Econpile group chief executive officer Raymond Pang said at the prospectus launch ceremony.
Econpile is pricing its IPO at an issue price of 54 sen per share.
He said Econpile’s orderbook currently stands at RM450mil, which will last the company up to two years.
"We are tendering for jobs worth between RM1bil to RM2bil mainly in Kuala Lumpur and Johor, and some parts in Pahang," he told reporter after the prospectus launch ceremony.
Econpile IPO entails a public issue of 90 million new share, and an offer-for-sale of 55 million vendor shares.
Of the public issues of 90 million shares, 27 million shares will be for application by Malaysian public, while 3.5 million shares will be allocated to the eligible directors, employees and business associates of Econpile. Meanwhile, 47 million shares will be allocated for private placement to identified directors and 12 million shares for bumiputera investors via private placement.
Listing Sought: Main Market
Issue Price: RM 1.85
Par Value: RM 0.50
Offer Period Open: 30-05-14
Offer Period Close: 6-06-14
Tentative listing date: 25-06-14
Number of shares:
Public Issue: 221,745,000
Offer for Sale: 289,022,000
Private Placement: -
Stock Code: ICON
INITIAL PUBLIC OFFERING OF UP TO 510,767,000 ORDINARY SHARES OF RM0.50 EACH IN ICON OFFSHORE BERHAD (“ICON”) (“IPO SHARES”) IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 1,177,185,100 ORDINARY SHARES OF RM0.50 EACH IN ICON (“SHARES”) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 289,022,000 EXISTING SHARES (“OFFER SHARES”) AND A PUBLIC ISSUE OF 221,745,000 NEW SHARES (“ISSUE SHARES”) INVOLVING:
(I) INSTITUTIONAL OFFERING OF UP TO 460,148,000 IPO SHARES TO BE ALLOCATED IN THE FOLLOWING MANNER:
(A) UP TO 324,772,000 IPO SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS; AND
(B) 135,376,000 ISSUE SHARES TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY,
AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING (“INSTITUTIONAL PRICE”); AND
(II) RETAIL OFFERING OF 50,619,000 ISSUE SHARES TO BE ALLOCATED IN THE FOLLOWING MANNER:
(A) 35,316,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC VIA BALLOTING; AND
B) 15,303,000 ISSUE SHARES RESERVED FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES OF ICON AND ITS SUBSIDIARIES ("ICON GROUP") AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE ICON GROUP,
AT THE RETAIL PRICE OF RM1.85 PER SHARE (“RETAIL PRICE”), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO A REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND FINAL RETAIL PRICE (AS DEFINED HEREIN) IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE,
SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND THE OVER-ALLOTMENT OPTION (AS DEFINED HEREIN). THE FINAL RETAIL PRICE WILL BE EQUIVALENT TO THE LOWER OF: (I) THE RETAIL PRICE; OR (II) THE INSTITUTIONAL PRICE.
Icon offshore Berhad (“ICON” or “the Company”) is the largest pure-play offshore support vessel (OSV) provider in Malaysia and one of the largest in Southeast Asia in terms of number of OSVs, according to the Infield Report. ICON owns and operates one of the youngest, fastest growing and most sophisticated fleets of OSVs in Southeast Asia to provide a wide range of logistical support services throughout the entire offshore oil and gas life cycle, from exploration and appraisal, field development and operation and maintenance, through to decommissioning. ICON is a Malaysia-based OSV provider and all of the vessels are Malaysian-flagged.
ICON is the largest pure-play OSV provider in Malaysia and one of the largest in Southeast Asia in terms of number of OSVs, according to the Infield Report. ICON own and operate one of the youngest, fastest growing and most sophisticated fleets of OSVs in Southeast Asia to provide a wide range of logistical support services throughout the entire offshore oil and gas life cycle from exploration and appraisal, field development and operation and maintenance, through to decommissioning.
twimYear end only look at Icon n alam px see speakup or me win the race... 2.01 n 1.56. This round I kalah already...
HeyHocan buy at this level or not?? will it break ipo price??
steelmanDo you know what is the original shareholder entry price? Par value is 50sen, so their entry cost is 50cents or even lower as they would have split RM 1 to 50 cents. Don't you think it makes sense for existing shareholders to sell at RM1.85, to cash out first.
speakupexisting Reach shareholder entry price is 1sen (same as Sona).
grantoIcon Offshore offloads one ship, adds another: http://www.seashipnews.com/News/Icon-Offshore-offloads-one-ship--adds-another/3w3c2505.html
grantoIcon enters Brunei via new joint venture: http://www.seashipnews.com/News/Icon-enters-Brunei-via-new-joint-venture/3w3c2534.html