Listing Detail:
Listing Sought: Main Market
Issue Price: RM 0.56
Par Value: RM 0.50

Dates:
Offer Period Open: 19-08-13
Offer Period Close: 30-08-13
Tentative listing date:  12-09-13

Number of shares:
Public Issue: 35,384,000
Offer for Sale:  8,361,000
Private Placement: 18,036,500

Stock Code: SOLID

Official Announcement

INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:

(I) PUBLIC ISSUE OF 35,384,000 NEW ORDINARY SHARES OF RM0.50 EACH ("SHARES") IN THE FOLLOWING MANNER:

- 7,500,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE PUBLIC;

- 9,847,500 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;

- 15,000,000 NEW SHARES AVAILABLE FOR APPLICATION BY BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND

- 3,036,500 NEW SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS

AND

(II) OFFER FOR SALE OF UP TO 8,361,000 EXISTING SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS,

AT AN ISSUE/OFFER PRICE OF RM0.56 PER SHARE, PAYABLE IN FULL UPON APPLICATION

Announcements

• IPO Announcement
• Timetable for IPO

Company Overview

Solid Automotive Berhad, an investment holding company, engages in the trading and distribution of automotive parts and components for the passenger and commercial vehicles in Malaysia and Singapore. It provides automotive electrical parts and components, including alternators, starters, solenoid switches, regulators, bulbs, sealed beams, horns, wiper blades, plug cables, carburators, relays, ignition coils, automotive wires, and LED lamps, head lamps, and beacons. The company also offers engine and mechanical parts and components comprising brake parts, coil springs gear boxes, clutch discs/covers, crankshafts, oil and water pumps, piston and lines, oil sumps/gaskets, air/oil filters, fuel pumps, injection units, brake drums, compressors, air dryers, valves, steering pumps, drag links, leaf springs, shock absorbers, air spring, and trailer parts, as well as intake and exhaust manifold products. In addition, it is involved in the remanufacture and sale of automotive alternators and starters. The company also exports its products to the Middle East, south east Asia, Central and South America, Africa, and other regions in Asia. Solid Automotive Berhad was founded in 1982 and is headquartered in Johor Bahru, Malaysia.

Solid Automotive to raise RM19.8m from IPO

Solid Automotive Bhd, an automotive parts trader and distributor seeks to raise RM19.8 million via initial public offering (IPO) exercise. The IPO exercise consists issuance of 35.38 million new shares, with an issue price of 56 sen per share, with the counter is set to make its debut on the main market of Bursa Malaysia on September 12.

Of the total raised proceeds, RM12 million will be used for capital expenditure, another RM5.3 million for working capital and the remaining RM2.5 million payable to listing expenses. "This listing exercise would bring company to the next level," Solid Automotive executive director Victor Ong Kheng Swee said.

-- Business Times