IPO - Leon Fuat Berhad (LEONFB)
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IPO - Leon Fuat Berhad (LEONFB)
Listing Detail:
Listing Sought: Main Market
Issue Price: RM 0.60
Par Value: RM 0.50
Dates:
Offer Period Open: 13/5/2013
Offer Period Close: 23/5/2013
Tentative listing date: 5/6/2013
Number of shares:
Public Issue: 59,310,000
Offer for Sale: Up to 31,000,000
Private Placement: 33,810,000
Stock Code: LEONFB
Official Announcement
INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:
(I) PUBLIC ISSUE OF 59,310,000 NEW ORDINARY SHARES OF RM0.50 EACH (“SHARES”) IN THE FOLLOWING MANNER:
• 15,500,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE PUBLIC;
• 10,000,000 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE
DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF
OUR GROUP;
• 33,810,000 NEW SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS;
AND
(II) OFFER FOR SALE OF UP TO 31,000,000 EXISTING SHARES BY WAY OF
PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF
INTERNATIONAL TRADE AND INDUSTRY,
AT AN ISSUE/OFFER PRICE OF RM0.60 PER SHARE, PAYABLE IN FULL UPON APPLICATION
News - Leon Fuat to raise RM36m in IPOLeon Fuat to raise RM36m in IPO
[You must be registered and logged in to see this image.]
KUALA LUMPUR (May 14, 2013): Leon Fuat Bhd, enroute to a listing on the
Main Market of Bursa Malaysia on June 5, aims to raise up to RM35.6
million in proceeds from its initial public offering (IPO).
Its executive director Calvin Ooi Shang How said of the proceeds, RM13
million will be utilised to repay bank borrowings that was used to
purchase a new industrial land with building, opposite its headquarters
in Shah Alam, while RM6 million will be utilised for the construction
of a new processing plant with warehousing facilities on the newly
acquired land.
Another RM6 million will go to the purchase of two new slitting
machines to expand the group's facilities to complement its existing
range of value-added services in its processing operations. Another
RM7.8 million is for working capital and the remaining RM2.8 million
for listing expenses.
Leon Fuat will commence the construction of its new processing plant
with warehousing facilities by 2015. This new plant, targeted to
complete by 2016, will be used to house the two new slitting machines
and store steel materials for trading and processing purposes.
For the financial year ended Dec 31, 2012 (FY12), the steel trading and
processing company derived 37.21% of its revenue from the trading of
steel products and 62.68% from the processing of steel products.
"The processing of steel products can contribute a higher margin so
we're looking to increasing the proportion contributed by processing as
we have the machines and the two new slitting machines by 2016," Ooi
told a press conference after the group's prospectus launch here
yesterday.
He said the two new slitting lines will increase the group's products
offerings and explore markets that the it had not been able to supply
to previously.
The group's gearing level will also improve to 0.67 times post-IPO from the current 0.82 times.
Leon Fuat predominantly serves the Malaysian market, which contributed
98% of its total revenue in FY12, while the remaining 2% is derived
from Japan, Singapore and Indonesia.
"The steel market has been competitive but we're positive on the
outlook of the steel industry. We believe the future is bright for Leon
Fuat once the projects of the regional economic corridors are carried
out such as Iskandar Malaysia, the Northern Corridor Economic Region
and the Sabah Development Corridor and Sarawak Corridor," said Ooi.
Under its IPO, the group is issuing up to 59.3 million new shares of 50
sen each, of which 15.5 million is available for the public, 10 million
for eligible directors and employees and 33.8 million for private
placement.
Leon Fuat will also offer for sale up to 31 million of its existing
shares for bumiputera investors at an issue price of 60 sen per share.
The Sun Daily
Listing Sought: Main Market
Issue Price: RM 0.60
Par Value: RM 0.50
Dates:
Offer Period Open: 13/5/2013
Offer Period Close: 23/5/2013
Tentative listing date: 5/6/2013
Number of shares:
Public Issue: 59,310,000
Offer for Sale: Up to 31,000,000
Private Placement: 33,810,000
Stock Code: LEONFB
Official Announcement
INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:
(I) PUBLIC ISSUE OF 59,310,000 NEW ORDINARY SHARES OF RM0.50 EACH (“SHARES”) IN THE FOLLOWING MANNER:
• 15,500,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE PUBLIC;
• 10,000,000 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE
DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF
OUR GROUP;
• 33,810,000 NEW SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS;
AND
(II) OFFER FOR SALE OF UP TO 31,000,000 EXISTING SHARES BY WAY OF
PLACEMENT TO BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF
INTERNATIONAL TRADE AND INDUSTRY,
AT AN ISSUE/OFFER PRICE OF RM0.60 PER SHARE, PAYABLE IN FULL UPON APPLICATION
News - Leon Fuat to raise RM36m in IPOLeon Fuat to raise RM36m in IPO
[You must be registered and logged in to see this image.]
KUALA LUMPUR (May 14, 2013): Leon Fuat Bhd, enroute to a listing on the
Main Market of Bursa Malaysia on June 5, aims to raise up to RM35.6
million in proceeds from its initial public offering (IPO).
Its executive director Calvin Ooi Shang How said of the proceeds, RM13
million will be utilised to repay bank borrowings that was used to
purchase a new industrial land with building, opposite its headquarters
in Shah Alam, while RM6 million will be utilised for the construction
of a new processing plant with warehousing facilities on the newly
acquired land.
Another RM6 million will go to the purchase of two new slitting
machines to expand the group's facilities to complement its existing
range of value-added services in its processing operations. Another
RM7.8 million is for working capital and the remaining RM2.8 million
for listing expenses.
Leon Fuat will commence the construction of its new processing plant
with warehousing facilities by 2015. This new plant, targeted to
complete by 2016, will be used to house the two new slitting machines
and store steel materials for trading and processing purposes.
For the financial year ended Dec 31, 2012 (FY12), the steel trading and
processing company derived 37.21% of its revenue from the trading of
steel products and 62.68% from the processing of steel products.
"The processing of steel products can contribute a higher margin so
we're looking to increasing the proportion contributed by processing as
we have the machines and the two new slitting machines by 2016," Ooi
told a press conference after the group's prospectus launch here
yesterday.
He said the two new slitting lines will increase the group's products
offerings and explore markets that the it had not been able to supply
to previously.
The group's gearing level will also improve to 0.67 times post-IPO from the current 0.82 times.
Leon Fuat predominantly serves the Malaysian market, which contributed
98% of its total revenue in FY12, while the remaining 2% is derived
from Japan, Singapore and Indonesia.
"The steel market has been competitive but we're positive on the
outlook of the steel industry. We believe the future is bright for Leon
Fuat once the projects of the regional economic corridors are carried
out such as Iskandar Malaysia, the Northern Corridor Economic Region
and the Sabah Development Corridor and Sarawak Corridor," said Ooi.
Under its IPO, the group is issuing up to 59.3 million new shares of 50
sen each, of which 15.5 million is available for the public, 10 million
for eligible directors and employees and 33.8 million for private
placement.
Leon Fuat will also offer for sale up to 31 million of its existing
shares for bumiputera investors at an issue price of 60 sen per share.
The Sun Daily
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