Pasukhas Group Berhad

Listing Detail:
Listing Sought: ACE Market (Trading / Services)
Issue Price: RM0.12
Par Value: RM0.10

Dates:
Offer Period Open: 02/08/2012
Offer Period Close: 13/08/2012
Balloting of applications: 15/08/2012
Allotment of IPO shares: 24/08/2012
Tentative listing date: 29/08/2012

Number of shares:
Public Issue: 90,000,000 (TOTAL)
Private Placement: 55,000,000
Eligible Directors: 25,000,000
Public: 10,000,000
 

Official Announcement:

PUBLIC ISSUE OF 90,000,000 NEW ORDINARY SHARES OF RM0.10 EACH IN PASUKHAS GROUP BERHAD (“SHARES”) AT AN ISSUE PRICE OF RM0.12 PER SHARE PAYABLE IN FULL UPON APPLICATION COMPRISING:-

I. 10,000,000 SHARES AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;

II. 25,000,000 SHARES AVAILABLE FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES OF PASUKHAS GROUP BERHAD AND ITS SUBSIDIARY (“GROUP”) AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE GROUP; AND

III. 55,000,000 SHARES AVAILABLE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED INVESTORS

IN CONJUNCTION WITH THE LISTING OF PASUKHAS GROUP BERHAD ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD

News: Pasukhas Group expects to raise RM10.8m from IPO (Business Times)

MECHANICAL and engineering services provider Pasukhas Group Bhd, en route to a listing on the ACE Market of Bursa Malaysia, expects to raise RM10.8 million from its initial public offering (IPO) exercise.

Its chairman and managing director A.K. Teng said the proceeds from the IPO would be used for working capital (58.9 per cent), repayment of bank borrowings (15.1 per cent), research and development (5.6 per cent), and listing expenses (20.4 per cent).

"Our ability to offer a comprehensive range of M&E services and related electrical equipment provides us with a competitive edge in the industry. We are among the main players in the country in this field," he told reporters at the company's prospectus launch at its headquarters yesterday.

Pasukhas Group's listing exercise, scheduled for August 29, involves a public issue of 90 million shares at an IPO price of 12 sen per share.

Of these new shares, 55 million ordinary shares will be issued by way of private placement, 10 million ordinary shares will be made available to the public and 25 million ordinary shares for the company's eligible directors and employees.

"The listing exercise will enable us to raise funds for our operations and expansion as well as enhance our business profile. We believe that our track record and growth potential have put us in a great position in the market and investors can tap into this growth and realise the fruits in time to come.

"We have been in the M&E services for 27 years and we have successfully completed over 500 projects both on our own and through joint ventures and partnerships with other well-established companies.

"We also have a diverse business presence regionally as our businesses are in Malaysia, Indonesia, GCC (Gulf Cooperation Council) countries, Sri Lanka and Jamaica," added Teng.

On its financial performance, the company registered a total revenue of RM25.8 million and profit after tax of RM1.3 million for the financial year ended December 31 last year.

For the financial period ended March 31 this year, the group posted a revenue of RM5.2 million and a profit after tax of RM770,000.