Berjaya Auto Berhad IPO



Berjaya AutoBerjaya Auto Bhd, a company that involve in distribution, retailing and servicing of Mazda vehicles is scheduled to be listed in Main Market of Bursa Malaysia on 18th November 2013.

The Initial Public Offering (IPO) consists of public issues of 82.8 million new ordinary shares at an IPO price of RM0.70 per share.

Out of this, 41.4 million shares are allocated for are for private placement, 10.2 million shares allocated for Bumiputera investors approved by MITI, 19.2 million shares reserved for application by the shareholders of Berjaya Corporation Berhad and the remaining 12 million shares reserved for the eligible directors, employees and business associates.

Unfortunately, there is no allocation for general public to subscribe to Berjaya Auto IPO.

The IPO exercise is expected to raise RM57.9 million and the proceeds will be used for working capital (41.7 million), finance capital expenditure (7.5 million), investment in MMSB (4.5 million) and payment of listing expenses (RM4.2 million).

In summary, Berjaya Auto involved in distribution, retailing  and after sales of Mazda vehicles. On to of that it involve in local assembly and export of Mazda vehicles assemble in Malaysia through MMSB.

More information about Berjaya Auto can be found in their website.

Berjaya Auto intends to pay up to 40 percent of  profit after tax as dividends. Based on 2013 figures, this translate to dividend yield of 3.53 percent or 2.5 sen per share

The table below is the financial summary for Berjaya Auto Bhd.

FYE 2010 FYE 2011 FYE 2012 FYE 2013
Revenue (RM’000) 286,829 592,603 663,581 1,064,349
Profit after Tax (RM’000)# 14,145 36,146 40,683 52,013
Earnings per Share (sen)* 1.68 4.29 4.83 6.17
Price Earnings Ratio (x)* 41.71 16.32 14.50 11.34

* Based on number of shares post IPO
Maybank Investment Banks is the principal adviser, managing underwriter and joint placement agent of the IPO.

The subscription period is opened until 1st November 2013 at 5pm. Share allocation determination date is on 8th November 2013 while the allotment date is on 14th November 2013.

Berjaya Auto stock name in Bursa Malaysia is “BJAUTO ”.

View Berjaya Auto prospectus in Bursa Malaysia webpage.


Leave a Comment

  • LazyBug 21st October, 2013, 9:50 am

    do I still entitle for the subsription if I purchase Berjaya Corp Bhd’s shares now?

    Reply
    • 1mdb.com 21st October, 2013, 12:25 pm

      I read somewhere that the closing date already over, if I can recall correctly it was early this month.

      Reply
  • Bryan Fang 22nd October, 2013, 9:52 am

    why they dont open for public, what is the reason behind?

    Reply
    • 1mdb.com 23rd October, 2013, 10:10 am

      I don’t really know. May just want to award BJCorp shareholders.

      Reply