Eversendai Corporation Bhd, a leading steel contractor and fabricator, is schedule to be listed in Main Market on 1st July 2011.
The Initial Public Offering (IPO) consists of 232.2 million ordinary shares at an IPO price of RM1.70 per share at RM0.50 par value. However, the final retail price will be equal to the 95% of the institutional price.
Out of 232.2 million shares, 202.0 million shares are offered to Malaysian and foreign institutional and selected investors and a retail offering of 30.2 million shares to the Malaysian public and employees of Eversendai Corporation Berhad.
Eversendai Corporation Berhad is an integrated steel contractor which has engineering, structural design, fabrication and erection capabilities and carved a niche in the business both locally and abroad..
It has completed over 100 projects including Dubai’s landmark hotel, Burj Al Arab, BurjKhalifa, The Dubai Mall, Dubai Airport Control Tower, Singapore Indoor Stadium, the Philippines’ Mabalacat and Bamban Bridges, and Saudi Aramco in Riyadh.
More information regarding the company can be found in Eversendai Corporation webpage.
For the time being, Eversendai Corporation, does not have any fixed dividend policy.
The table below is financial summary for Eversendai Corporation Bhd.
|FYE 2008||FYE 2009||FYE 2010|
|Profit after Tax (RM’000)||59,413||77,985||116,727|
|Earnings per Share (sen)||7.68||10.08||15.08|
|Price Earnings Ratio (x)||22.15||16.87||11.27|
Maybank is sole adviser, underwriter and bookrunner for the IPO.
For those who are interested in Eversendai Corporation IPO, you may subscribed at ATM machines or via Internet Banking. The subscription period is opened until 21st June 2011 at 5pm. Tentative balloting date is on 23rd June while allotment date is on 29th June 2011.
Eversendai Corporation Berhad stock name in Bursa Malaysia is “SENDAI”.
View Eversendai Corporation prospectus in Bursa Malaysia webpage.
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