Listing Sought: Main Market
Issue Price: RM 1.85
Par Value: RM 1.00
Offer Period Open: 4/7/2013
Offer Period Close: 11/7/2013
Tentative listing date: 31/7/2013
Number of shares:
Public Issue: 330,000,000
Offer for Sale: 77,000,000
Stock Code: RANHILL
INITIAL PUBLIC OFFERING OF UP TO 407,000,000 ORDINARY SHARES OF RM1.00 EACH IN RANHILL ENERGY AND RESOURCES BERHAD (“RANHILL”) (“IPO SHARES”) IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 961,766,000 ORDINARY SHARES OF RM1.00 EACH IN RANHILL (“SHARES”) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 77,000,000 EXISTING SHARES (“OFFER SHARES”) AND A PUBLIC ISSUE OF 330,000,000 NEW SHARES (“ISSUE SHARES”) INVOLVING:
(I) INSTITUTIONAL OFFERING OF UP TO 328,721,680 IPO SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING 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 78,278,320 ISSUE SHARES TO THE ELIGIBLE DIRECTORS AND EMPLOYEES OF RANHILL AND ITS SUBSIDIARIES (“RANHILL GROUP”), PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE RANHILL GROUP AND THE MALAYSIAN PUBLIC, AT THE RETAIL PRICE OF RM1.85 PER SHARE (“RETAIL PRICE”), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND THE 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 EQUAL TO THE LOWER OF (I) THE RETAIL PRICE; OR (II) THE INSTITUTIONAL PRICE.
Ranhill Energy Hopes to Raise Around $315 Million in Malaysia IPO
(Reuters) - Malaysian energy and water company Ranhill Energy and Resources Bhd on Thursday launched the bookbuilding of its up to $240 million initial public offering in Malaysia, seeking to raise funds to repay debt and for working capital, according to a term sheet of the deal seen by Reuters.
The company and its shareholders are offering 328.72 million shares to institutional investors in an indicative price range of 1.70 ringgit to 1.85 ringgit per share, valuing the company at a forward price-to-earnings ratio of 8.8 times to 9.6. About 78.28 million shares are allocated for the retail portion.
The deal is slated to be priced on July 15, with its debut set for July 31.
Cornerstone investors, which include Corston-Smith Asset Management Sdn Bhd and Eastspring Investment Bhd, took 118.27 million shares, or 12.3 percent of the company's enlarged share capital, according to the sheet.
Maybank Investment Bank is the principal adviser for the IPO. CIMB Investment Bank and Maybank Investment Bank are the joint global coordinators and bookrunners. They are also the underwriters for the deal. ($1 = 3.1865 Malaysian ringgit) (Reporting By Yantoultra Ngui; Editing by Shri Navaratnam)