XOX Berhad, a mobile virtual network operator (MVNO) is schedule to be listed in ACE Market on 10th June 2011.
The IPO consists of public issue of 46.8 million new ordinary shares at an IPO price of RM0.80 per share at RM0.10 par value. Out of this, 7.5 million shares are allocated to Malaysian public, 9.5 million shares allocated to eligible directors, employees and business associates and 29.8 million shares for private placement.
The IPO will raise RM37.4 million in proceeds. The proceed will be used for company’s expansion plans and to enhance its profile among consumers.
XOX is a mobile virtual network operator in Malaysia, offering mobile phone services by tapping into the infrastructure of an established and widely-covered mobile network operator. XOX targets mainly the value conscious prepaid market and it offers both 2G and 3G services in the country. More information regarding the company can be found in XOX Berhad webpage.
XOX Berhad have no fixed dividend policy and does not intend to pay dividend for financial year end 2011. Any future dividends declaration is subjected to financial capability, board and shareholders approval.
The table below is financial summary for XOX Berhad.
|FYE 2007||FYE 2008||FYE 2009||FYE 2010|
|Loss after Tax (RM’000)||(239)||(1,216)||(13,126)||(15,981)|
|Loss per Share (sen)||(0.1)||(0.5)||(5.2)||(6.4)|
AmBank Investment Bank is sole principal adviser, managing underwriter, underwriter and placement agent for the IPO while SJ Securities Sdn Bhd is the joint co-underwriter.
For those who are interested in XOX Berhad IPO you may subscribed at ATM machines or via Internet Banking. The subscription period is opened until 31st May 2011 at 5pm. Tentative balloting date is on 2nd June while allotment date is on 7th June 2011.
View XOX Berhad prospectus in Bursa Malaysia webpage. XOX Berhad stock name in Bursa Malaysia is “XOX”.
What do you think about XOX IPO? Are you going to subscribe?