IPO Malaysia
IPO - Serba Dinamik Holdings Berhad (SERBADK)
Listing Detail:
Listing Sought: Main Market
Issue Price: RM 1.50
Par Value: RM 0.50
Dates:
Offer Period Open: 30 Dec 2016
Offer Period Close: 19 Jan 2017
Tentative listing date: 8 Feb 2017
Number of shares:
Public Issue: 271,400,000
Offer for Sale: 118,000,000
Private Placement: -
Stock Code: SERBADK
Official Announcement
INITIAL PUBLIC OFFERING (IPO) OF UP TO 389,400,000 ORDINARY SHARES OF RM0.50 EACH IN SERBA DINAMIK HOLDINGS BERHAD (SERBA DINAMIK HOLDINGS) (IPO SHARES) COMPRISING AN OFFER FOR SALE OF UP TO 118,000,000 EXISTING SHARES (OFFER SHARES) AND A PUBLIC ISSUE OF 271,400,000 NEW SHARES (ISSUE SHARES) IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 1,335,000,000 ORDINARY SHARES OF RM0.50 EACH IN SERBA DINAMIK HOLDINGS (SHARES) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD IN THE FOLLOWING MANNER:
(A) INSTITUTIONAL OFFERING OF UP TO 341,300,000 IPO SHARES TO MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING 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
(B) RETAIL OFFERING OF 48,100,000 ISSUE SHARES TO THE ELIGIBLE DIRECTORS AND EMPLOYEES OF SERBA DINAMIK HOLDINGS AND ITS SUBSIDIARIES AND THE MALAYSIAN PUBLIC, AT THE RETAIL PRICE OF RM1.50 PER SHARE (RETAIL PRICE), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND THE FINAL RETAIL PRICE 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.
THE FINAL RETAIL PRICE WILL BE EQUAL TO THE LOWER OF: (I) THE RETAIL PRICE OF RM1.50 PER ISSUE SHARE; AND (II) THE INSTITUTIONAL PRICE, SUBJECT TO ROUNDING.
Company Overview
Serba Dinamik Sdn Bhd provides integrated engineering, contracting, and maintenance services. The company also offers system integrator/packager, operation and maintenance, trading, training, and information technology services; and procurement, construction, and commissioning services. It serves customers worldwide. The company was founded in 1993 and is based in Shah Alam, Malaysia.
Address & Contact:
7-5, Pusat Dagangan UMNO Shah Alam
Lot 8, Persiaran Damai
Seksyen 11 Shah Alam, 40100 Selangor, Malaysia
Phone: +603 5511 3213
Fax: +603 5511 3212
Website: http://www.e-serbadk.com
News: Serba Dinamik listing to be biggest in 19 months
PETALING JAYA: Serba Dinamik Holdings Bhd’s plan of raising close to RM600mil from its initial public offering (IPO) comes at a time when there is a dearth of IPOs.
The energy services group’s listing on Feb 8 marks the country’s biggest listing in 19 months.
The largest Malaysian IPO this year was by Ranhill Holdings Bhd for RM386.8mil through a reverse takeover, according to Reuters data.
Malakoff Corp Bhd and Sunway Construction Group Bhd raised RM2.74bil and RM550mil, respectively, in May and July 2015.
Through its public issue, Serba Dinamik Holdings aims to raise total gross proceeds of RM407.1mil, of which about 73.69% of proceeds will be used for the expansion of the group’s business and operational facilities, and about 7.20% for working capital.
A further 14.74% of the proceeds will be utilised for repayment of bank borrowings/financing while the balance of 4.37% will be allocated to defray estimated listing expenses.
The company, which is issuing up to 389.4 million shares at an issue price of 50 sen each, is offering for sale up to 118 million existing shares and 271.4 million new shares.
Of this, 153.5 million will be allocated to bumiputra investors, 187.78 million to institutional investors and the remaining 48.1 million to retail investors.
RHB Investment Bank Bhd and Affin Hwang Investment Bank Bhd are the joint principal advisers, joint bookrunners and joint underwriters, while AmInvestment Bank Bhd and Kenanga Investment Bank Bhd are joint underwriters for the IPO.
RHB Investment Bank is also the managing underwriter for the listing exercise.
Serba Dinamik, which launched its prospectus yesterday, said in a statement that it had experienced rapid growth over the past three years, particularly in the Middle East, which contributed 47.3% to its total revenue in 2015.
“The downturn in oil prices over the period has also led to asset owners turning to companies like Serba Dinamik for cost-effective solutions, thus strengthening its revenue at a compounded annual growth rate of 61.8% from RM536.2mil in 2013 to RM1.41bil in 2015.”
In the same statement, group managing director and group chief executive officer Datuk Dr Mohd Abdul Karim Abdullah said the company had started to embark on its asset-ownership business model with its first compressed natural gas plant located in Muaro Jambi, Sumatra, Indonesia.
He said the company had two ongoing memorandums of understanding for the partnership agreement to develop small gas power plants and water utilities in East Kalimantan with the local government district development body.
The agreement will also involve the joint development and ownership of a small gas power plant in Muaro Jambi, Sumatra, Indonesia with a local government-owned power corporation.
“In addition, we are looking at opportunities to grow our business through investment and acquisition, but not limited to maintenance, repair and overhaul service providers and small hydropower generation companies that can potentially add value to our existing business operations.
“The successful investment and acquisition will potentially generate an incremental revenue stream for the group while enhancing our competitive advantages within the industry,” he added.
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1 person likes this. Showing 50 of 56 comments
See our review on this stock in the link below...
https://omightycap.wordpress.com/2017/01/12/ipo-serba-dinamik-holdings/
We think its a good company but the operating conditions are not favorable
2017-01-12 09:58
I am applying. Oil and Gas stocks have good sentiment now. Should do well this IPO plus financials are good.
2017-01-12 19:45
Lot of Institutions do not want to subscribe to another O & G stocks.They had enough and still stuck with pre 2015 price. They do not have mandate to invest in this sectors....they can't have too big exposure in one particular sector. I think will have hard time to push... plus too big issuing...for now.
2017-01-19 12:33
Heard that KIP is only oversubscribed by 5x? I applied to Serba I think more worth while from long term perspective. Maintenance services market could be relatively more stable/less volatile compared with property market
2017-01-19 12:44
Fair Value:
1. RM2.05 - RM2.25 (RHB Investment Bank)
2. RM1.90 (TA Securities)
3. RM1.60 - RM1.77 (Affin Hwang)
4. RM2.05 (Public Investment Bank
2017-01-19 15:39
Heard BFM Morning grill this morning with their Group CEO sounds convincing and good, macam boleh ... PE8x.
2017-01-19 15:53
wa this UMNO kaki so panai....last week baru created one official website haha.
Matang MCA kaki ady raised fund with 0.13 offering price....UMNO kaki now raise fund with offering price 1.50 (wow...the gap of MCA and UMNO so big leh haha)
Both raise fund for election purpose :D Hope that you guys can get the return from the operating of election hahahhahhaha
2017-01-20 08:17
http://www.theedgemarkets.com/my/article/serba-dinamik-posts-3q-profit-rm4466m-ahead-listing
3Q profit. No comparison so Im not sure if its increased or not? Anybody got input?
2017-02-06 16:45
don't expect so mu ch fluctuate on 1st day listing. IPO nowadays have no passion. However this counter might hit TP within a month if market good.
2017-02-07 10:01
Public IB Research values Serba Dinamik at RM2.05
Author: moneyKing | Publish Date: 18 Jan 2017, 9:16 AM
By theedgemarkets.com / theedgemarkets.com | January 18, 2017 : 9:00 AM MYT
KUALA LUMPUR (Jan 18): Public IB Research has valued Main Market-bound Serba Dinamik Holdings Berhad (Serba Dinamik) at RM2.05, pegged to an 11.0x PE multiple, based on our FY17F EPS of 18.6 sen.
In a note today, the research house said Serba Dinamik’s main activities include operations and maintenance (O&M) services and engineering, procurement, construction and commissioning (EPCC) works.
“Going forward, we expect growth to be driven mainly by its core activities, focusing on international markets such as the Middle East regions while leveraging on its expertise to expand into the power generation sector as an asset owner, contractor and operator.
“We are therefore valuing Serba Dinamik with a fair value of RM2.05 pegged to an 11.0x PE multiple, based on our FY17F EPS of 18.6sen.
2017-02-07 18:52
apart from Shale oversupply, cant think why opening so bad. maybe its time to buy? financial looks GOOD.im buying
2017-02-08 09:58
buy if u are willing to hold for few months or years. limited upside for now.
2017-02-08 11:15
IPO holders trying to get out for small profit. This will cause price overhang for next few days.
2017-02-08 11:15
in fact, this Serba IPO reminds me of Bplant IPO at 1.60 2 years ago. Bplant was also very highly promoted by the IB, then on listing day, it opened and closed at a small premium to IPO. then 2nd day onwards, it went below IPO price dropped to about 1.40. Only this year, Bplant is above IPO price.
2017-02-08 11:19
Mohd Fahmi Bin Jaes every other post also one word SELL" but över here heavily promoting SerbaDK.
2017-02-08 11:30
Then must support him. If checked last year all main board IPO give good return.
Posted by Contender > Feb 8, 2017 11:30 AM | Report Abuse
Mohd Fahmi Bin Jaes every other post also one word SELL" but över here heavily promoting SerbaDK.
2017-02-08 11:40
Dont any of you realize that the latest Q result is not 3 month but 4 month results? Nothing fantastic at all about the results. Whats the diff only 1 extra month counted you might ask. 1/3 more is 33% difference...
2017-02-08 13:51
Trust me you can't earn big money today. Sell it, an investors always there to buy.
2017-02-08 14:05
http://bblifediary.blogspot.my/2017/02/serbadk.html
found this quite good, the revenue for 9MFY16 should actually be RM1.42 billion
2017-02-10 14:54
damagpie yes the 3rd Qtr results shown was for 4 mnths only i.e. jun - Sept 16(4 months !). add 3 more qtrs (or 8 months in this case, shud get to the EPS arnd 13.5 to 15 for FYE16. mutiply by earnings mutiple of 13(PE 13X 13.5 = RM1.76 at least i wud think. looks cheap compare to uzma & deleum. thats it im buying more. yes small time player oni hahah
2017-02-13 14:54
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Brent crude at $57 good indication for this stock. After OPEC and non-OPEC cut production this sure fly
2017-01-09 14:23