OldTown Bhd, the “kopitiam” chain operator and instant beverage mix manufacturer, is schedule to be listed in Main Market on 13th July 2011.
The Initial Public Offering (IPO) consists of 96.4 million ordinary shares at an IPO price of RM1.25 per share at RM1.00 par value.
Out of 96.4 million shares, 48.4 million shares will be allocated for private placement, 10 million for the Malaysian public, and five million for eligible directors, employees and business associates of the group.
OldTown Bhd, expects to raise RM79.2 million from its initial public offering (IPO). Out of these, RM52 million will be invest to build a new plant in Kawasan Perindustrial Tasek, Ipoh and RM19.7 million from the proceeds would be used to acquire 17 companies not yet owned by OldTown.
OldTown planned to open 300 outlets in three years from current 182 in Malaysia, Indonesia and Singapore.
More information regarding the company can be found in OldTown Berhad webpage.
OldTown intends to distribute minimum 50% of their net profit at dividend. Based on 2010 figures and IPO price RM1.25, it translate to 4.78% dividend yield.
The table below is financial summary for OldTown Bhd.
|FYE 2007||FYE 2008||FYE 2009||FYE 2010|
|Profit after Tax (RM’000)||10,904||20,569||30,338||31,872|
|Earnings per Share (sen)||4.06||7.67||11.34||11.89|
|Price Earnings Ratio (x)||30.56||16.20||10.98||10.46|
AmInvestment Bank Bhd is the principal adviser, managing underwriter, joint underwriter and joint placement agent while CIMB Investment Bank Bhd is the joint underwriter and joint placement agent for the IPO exercise.
For those who are interested in OldTown IPO, you may subscribed at ATM machines or via Internet Banking. The subscription period is opened until 29th June 2011 at 5pm. Tentative balloting date is on 1st July while allotment date is on 6th July 2011.
OldTown Berhad stock name in Bursa Malaysia is “OLDTOWN”.
View OldTown prospectus in Bursa Malaysia webpage.
What do you think about OldTown IPO? Are you going to subscribe?