Listing Detail:
Listing Sought: Main Market
Issue Price: RM0.75
Par Value: RM 0.40

Dates:
Offer Period Open: 23 Jun 2016
Offer Period Close: 12 Jul 2016
Tentative listing date: 21 Jul 2016

Number of shares:
Public Issue: 24,000,000
Offer for Sale: 16,000,000
Private Placement: 11,370,000 (part of Offer for Sale)

Stock Code: DANCO

Official Announcement

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

(A) PUBLIC ISSUE OF 24,000,000 NEW ORDINARY SHARES OF RM0.40 EACH (SHARES) IN THE FOLLOWING MANNER:

(I) 7,500,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE PUBLIC;

(II) 2,503,000 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;

(III) 13,997,000 NEW SHARES AVAILABLE FOR APPLICATION BY WAY OF PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND

(B) OFFER FOR SALE OF 16,000,000 EXISTING SHARES IN THE FOLLOWING MANNER:

(I) UP TO 4,630,000 EXISTING SHARES BY WAY OF PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND

(II) 11,370,000 EXISTING SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS;

AT AN ISSUE/OFFER PRICE OF RM0.75 PER SHARE, PAYABLE IN FULL UPON APPLICATION

Company Overview

Dancomech Holdings Berhad, an investment holding company, engages in trading and distributing process control equipment and measurement instruments in Malaysia, Italy, Indonesia, and internationally. The company offers valves, such as ball, butterfly, blowdown, check, diaphragm, gate, globe, pressure reducing, pressure safety/relief, solenoid, temperature control, and other valves.

It also provides actuators, chart recorders, expansion joints, flow products, level control equipment, positioners, premium explosion protection products, pressure gauges, rupture/bursting discs, sight glasses, steam traps, switches, tank protection devices, temperature gauge and instruments, and Y strainers.

It serves primarily EPCC contractors, engineering consultants, OEM hardware retailers, equipment manufacturers, and end users in the palm oil and oleochemical, oil and gas, petrochemical, and water treatment and sewerage industries. Dancomech Holdings Berhad was founded in 1989 and is headquartered in Shah Alam, Malaysia.

No 19 Jalan Pelukis U1/46, Temasya Industrial Park,
Seksyen U1, 40150 Shah Alam, Selangor
Tel : 03-5569 2929
Fax : 03-5569 2935/37
Enquiry: sales@dancomech.com.my
Web:  http://dancomech.com.my

Dancomech to raise RM18m from proposed IPO

Process control equipment and measurements instruments company Dancomech Holdings Bhd plans to raise RM18mil from its proposed listing on the Main Market of Bursa Malaysia.

Under its listing exercise, it said on Thursday it was offering for sale 24 million new shares of 40 sen each at an offer price of 75 sen.

Of the RM18mil, it will use RM6.5mil to buy new offices and stores while RM4.55mil would be used to repay borrowings and RM2.74mil as working capital.

According to its prospectus, of the 24 million new shares, it would offer for sale to public 7.50 million shares while 2.50 million units would be made available to eligible directors and employees while 13.99 million shares would be placed out to approved Bumiputera investors.

The major shareholders will offer sale 16 million existing shares of which 4.63 million will be placed out to approved Bumiputera investors and 11.37 million shares would be placed out to selected investors.
-- The Star