Bursa Alert
Global Market
NewsMSM M’sia prices IPO shares at RM3.50 each
Page 1 of 1
MSM M’sia prices IPO shares at RM3.50 each
by hlk Wed 15 Jun 2011, 20:49
KUALA LUMPUR: MSM Malaysia Holdings Bhd, the federal land authority’s sugar refining arm, has priced its initial public offering (IPO) at RM3.50 per share for institutional investors, a source with direct knowledge of the deal said yesterday.
The price is at the top end of the RM3.30-RM3.50 range set earlier, valuing the IPO at about RM817mil.
MSM is selling about 234 million shares in the IPO. The institutional portion would comprise about 206 million shares or 29.4% of the enlarged share capital.
The retail portion would consist of about 28 million shares or 4% of the enlarged share capital.
“Basically, everyone bid the whole book because they knew it was oversubscribed and they wouldn’t get any shares,” said a fund manager.
Funds raised will be used for capital expenditure and working capital requirements.
CIMB and Maybank are the joint bookrunners.
MSM is a subsidiary of Felda Global Group, the commercial arm of Federal Land Development Authority (Felda).
Felda is the world’s largest estate owner which helps rural settlers to develop plantations of agricultural commodities such as palm oil and rubber. — Reuters
The price is at the top end of the RM3.30-RM3.50 range set earlier, valuing the IPO at about RM817mil.
MSM is selling about 234 million shares in the IPO. The institutional portion would comprise about 206 million shares or 29.4% of the enlarged share capital.
The retail portion would consist of about 28 million shares or 4% of the enlarged share capital.
“Basically, everyone bid the whole book because they knew it was oversubscribed and they wouldn’t get any shares,” said a fund manager.
Funds raised will be used for capital expenditure and working capital requirements.
CIMB and Maybank are the joint bookrunners.
MSM is a subsidiary of Felda Global Group, the commercial arm of Federal Land Development Authority (Felda).
Felda is the world’s largest estate owner which helps rural settlers to develop plantations of agricultural commodities such as palm oil and rubber. — Reuters
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» Hot Stock BAT shares down 0.9% following U-turn of prices
» 7-Eleven Malaysia prices institutional investors shares in $226 mln IPO - IFR
» MAHB prices placement shares at RM7.90 each to raise RM980m
» Metronic prices placement shares at 10 sen each to raise RM6m
» Market Close Malaysian shares, ringgit gain on better oil prices
» 7-Eleven Malaysia prices institutional investors shares in $226 mln IPO - IFR
» MAHB prices placement shares at RM7.90 each to raise RM980m
» Metronic prices placement shares at 10 sen each to raise RM6m
» Market Close Malaysian shares, ringgit gain on better oil prices
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum