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NewsBerjaya Auto’s restricted offer oversubscribed 4.19 times
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Berjaya Auto’s restricted offer oversubscribed 4.19 times
by Cals Mon 11 Nov 2013, 00:16
Published: Friday November 8, 2013 MYT 5:41:00 PM
Updated: Friday November 8, 2013 MYT 5:44:32 PM
Berjaya Auto’s restricted offer oversubscribed 4.19 times
KUALA LUMPUR: Berjaya Auto Bhd is offering 82.76 million new shares under its initial public offer (IPO) at an offer price of 70 sen each to raise RM57.90mil as it seeks a listing on the Main Market of Bursa Malaysia.
In its prospectus released on Friday, it said of the 82.76 million new shares, 41.449 million units were would be placed out to Malaysian institutional and selected investors.
It added another 10.157 million shares would be allocated to approved Bumiputera investors while 19.157 million units would be reserved for entitled shareholders ofBerjaya Corporation and the remaining 12 million shares for eligible directors and employees.
Berjaya Auto said of the RM57.90mil in proceeds, 72% of the proceeds or RM41.70mil would be used for working capital.
It said the issue price was based on the price-to-earnings multiple (PER) of about 11.1 times based on the earnings per share of 6.3 sen.
“Based on the issue price of 70 sen per issue share and the issued and paid-up share capital of 802,76 million shares upon listing, the total market capitalisation of our company upon listing is approximately RM561.9mil,” it said.
Updated: Friday November 8, 2013 MYT 5:44:32 PM
Berjaya Auto’s restricted offer oversubscribed 4.19 times
KUALA LUMPUR: Berjaya Auto Bhd is offering 82.76 million new shares under its initial public offer (IPO) at an offer price of 70 sen each to raise RM57.90mil as it seeks a listing on the Main Market of Bursa Malaysia.
In its prospectus released on Friday, it said of the 82.76 million new shares, 41.449 million units were would be placed out to Malaysian institutional and selected investors.
It added another 10.157 million shares would be allocated to approved Bumiputera investors while 19.157 million units would be reserved for entitled shareholders ofBerjaya Corporation and the remaining 12 million shares for eligible directors and employees.
Berjaya Auto said of the RM57.90mil in proceeds, 72% of the proceeds or RM41.70mil would be used for working capital.
It said the issue price was based on the price-to-earnings multiple (PER) of about 11.1 times based on the earnings per share of 6.3 sen.
“Based on the issue price of 70 sen per issue share and the issued and paid-up share capital of 802,76 million shares upon listing, the total market capitalisation of our company upon listing is approximately RM561.9mil,” it said.
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