Highlights

IPO Malaysia

Author: kltrader   |   Latest post: Mon, 2 Mar 2020, 10:37 PM

 

IPO - Powerwell Holdings Berhad (PWRWELL)

Author:   |    Publish date:


Listing Detail:
Listing Sought: ACE Market
Issue Price: RM 0.25

Dates:
Offer Period Open: 2 Jan 2020
Offer Period Close: 10 Jan 2020
Tentative listing date: 22 Jan 2020

Number of shares:
Public Issue: 87,400,000
Offer for Sale: 58,055,200
Private Placement: 113,305,200

 

Stock Code: PWRWELL

 

Official Announcement

INITIAL PUBLIC OFFERING ("IPO") OF 145,455,200 ORDINARY SHARES IN POWERWELL HOLDINGS BERHAD ("POWERWELL" OR THE "COMPANY") ("SHARES") IN CONJUNCTION WITH THE LISTING OF POWERWELL ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:-

(A) PUBLIC ISSUE OF 87,400,000 NEW SHARES IN POWERWELL ("ISSUE SHARES") COMPRISING:-

(I) 23,800,000 ISSUE SHARES TO THE MALAYSIAN PUBLIC;

(II) 60,700,000 ISSUE SHARES BY WAY OF PRIVATE PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY OF MALAYSIA; AND

(III) 2,900,000 ISSUE SHARES BY WAY OF PRIVATE PLACEMENT TO INSTITUTIONAL AND SELECTED INVESTORS,

(B) OFFER FOR SALE OF 58,055,200 EXISTING SHARES ("OFFER SHARES") BY THE OFFERORS (AS DEFINED IN THE PROSPECTUS) COMPRISING:-

(I) 8,350,000 OFFER SHARES TO ELIGIBLE PERSONS (AS DEFINED IN THE PROSPECTUS); AND

(II) 49,705,200 OFFER SHARES BY WAY OF PRIVATE PLACEMENT TO INSTITUTIONAL AND SELECTED INVESTORS,

AT AN IPO PRICE OF RM0.25 PER SHARE PAYABLE IN FULL ON APPLICATION.

 

Company Overview

Powerwell provides services in power distribution management. The company offers comprehensive product and service solutions from the product development level to power distribution design.
 

Address & Contact:

No. 1B, Jalan Anggerik Mokara 31/48, Seksyen 31, Kota Kemuning,
40460 Shah Alam, Selangor, Malaysia


Tel: +603 5521 3333

Website: https://www.powerwell.com.my

 

News: Powerwell to raise RM21.85m from ACE Market IPO


 

POWERWELL Holdings Bhd is seeking to raise RM21.85 million from its IPO at 25 sen per share, as the company looks to strengthen and expand its electricity distribution product manufacturing business.

“We intend to develop and commercialise our Powerwell-branded products and obtain third-party International Electrotechnical Commission standards-compliant certifications for a wider range of our products.

“These efforts are meant to increase our competitiveness in the industry by growing our brand, market presence and market share,” Powerwell MD Jason Tham said at the launch of the IPO prospectus in Kuala Lumpur (KL) yesterday.

The group also intends to grow its replacement market business as it sees growth opportunities in this area, with existing buildings due for refurbishments or upgrades to prolong their lifespan.

“We have also appointed distributors regionally. We intend to increase marketing efforts locally and overseas to strengthen our brand awareness and brand loyalty,” Tham added.

Despite the tough market sentiment expected this year, the company is confident the listing will be a success, driven by over 25 years of experience in the electricity distribution industry and a proven track record domestically and overseas its ED Ricky Lee said.

The group has supplied low voltage switchboards and medium voltage switchgears to domestic projects, including both public and private initiatives across different industry segments, such as infrastructure and oil and gas.

Lee also expects demand for its products to be boosted by the revival of Malaysia’s construction sector, as well as Indonesia’s intention to relocate its administrative capital to East Kalimantan, Borneo.

“Other than that, the IPO will also enable us to gain access to the capital market for future expansion and growth, besides enhancing our company profile and reputation, attracting new skilled employees and expanding our customer base,” he said.

To support its manufacturing activities, Powerwell currently operates from manufacturing facilities in Kota Kemuning, Shah Alam, and Binh Duong, Vietnam.

The company has supplied products to Vietnam, Bangladesh, Indonesia, the Philippines, Cambodia and Singapore, among others.

Powerwell is expected to debut on the ACE Market of Bursa Malaysia on Jan 22, 2020. The group is offering 145.46 million Powerwell shares at 25 sen per share.

Upon listing, the company will have a market capitalisation of RM145.14 million based on its enlarged share capital of 580.55 million shares.

The IPO entails a public issue of 87.4 million new shares in Powerwell and an offering for sale of 58.06 million existing shares by the offerors.

Of the RM21.85 million to be raised from the exercise, RM10.27 million has been earmarked for capital expenditure, involving the purchase of machinery and equipment and the enhancement of Powerwell’s Enterprise Resource Planning systems and hardware.

The company also aims to improve manufacturing processing efficiency and boost production capacity.

Some RM3.87 million will be allocated for certification expenditure for a range of Powerwell-branded products, RM3.62 million for working capital purposes and the remaining RM4.1 million for estimated listing expenses.

Mercury Securities Sdn Bhd is the sole underwriter, principal advisor, sponsor and sole placement agent for the listing exercise, while BDO Capital Consultants Sdn Bhd is the financial advisor.

 

Share this
Labels: PWRWELL

Related Stocks

Chart Stock Name Last Change Volume 
PWRWELL 0.25 -0.005 (1.96%) 734,100 

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View candlestick stock charts with Technical indicators
MQ Affiliate
Be rewarded by being an MQ Affiliate
 
 

292  614  561  984 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 AT 0.095+0.005 
 LCTITAN 2.13-0.27 
 SUPERMX-C1I 0.145-0.005 
 LUSTER 0.165-0.005 
 MAHSING 0.96-0.04 
 HWGB 0.78+0.065 
 DGSB 0.225+0.01 
 DATAPRP 0.195-0.025 
 KSTAR 0.43+0.06 
 MTOUCHE 0.045-0.01 

FEATURED POSTS

1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!

TOP ARTICLES

1. Supermax: my revised target price - Koon Yew Yin Koon Yew Yin's Blog
2. A LOOK AT CALVIN TAN RESEARCH STOCK PICKS (AS RECORDED BY PHILIP NOT PERFECTLY BUT CLEAR ENOUGH THE INVESTMENT APPROACH OF CALVIN TAN
3. Supermax: The Best Is Yet To Come- Myth or Truth Van Gogh of Financial
4. US has 2 Incurable Chronic Diseases - Koon Yew Yin Koon Yew Yin's Blog
5. [Humbled Investor] Supermx - Superb results - Estimation on Next QR Results HumbledInvestor
6. DOW CRASHED BY 650 POINTS ? NO FEAR AT ALL IF YOU KNOW THIS STOCK PROSPERED DURING ASIAN FINANCIAL CRISIS & SUBPRIME CRISIS OF 2007/8 COLLAPSE (WHAT? THE INVESTMENT APPROACH OF CALVIN TAN
7. LUXCHEM RESULT VERSUS HARTALEGA RESULT (COMPARE & CONTRAST) Calvin Tan Research THE INVESTMENT APPROACH OF CALVIN TAN
8. Traders Brief 27 Oct 2020 - Volatility Ahead Amid Internal and External Headwinds HLBank Research Highlights
PARTNERS & BROKERS