IPO - Icon Offshore Berhad (ICON)

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Publish date: Fri, 30 May 2014, 05:39 PM

Listing Detail:
Listing Sought: Main Market
Issue Price: RM 1.85
Par Value: RM 0.50

Dates:
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

Official Announcement

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.

Company Background

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.

Website: http://www.iconoffshore.com.my/

ICON (5255)

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