Bioalpha Holdings Bhd, an integrated health supplements company principally involved in manufacture and sales of semi-finished and finished health supplement products, is scheduled to be listed in ACE Market of Bursa Malaysia on 14th April 2015.
The Initial Public Offering (IPO) consists of 100 million new ordinary shares at an IPO price of RM0.20 per share at RM0.05 par value. 80 million will be for selected investors while the remaining 20 million shares available for application from the Malaysian public.
The IPO will raise RM20 million in proceeds. Out of this, RM3 million will used for capital expenditure, RM3 million for Rearch and Development, RM2.62 million for repayment of bank borrowing, RM9.08 million for working capital & the remaining RM2.3 million is for listing expenses.
For RM3 million capital expenditure, the company plan to set up of a herb processing plant in Pasir Raja, Terengganu.
The funds earmarked for R&D on the other hand will be used to upgrade laboratory facilities as well as go towards the development of fermentation processes for four new medicinal mushroom strains.
More information regarding the company can be found in Bioalpha Holdings webpage.
Bioalpha Holdings intends to pay 30 percent of its net profit as dividend. Base on 2013 figures & IPO price of RM0.20, this translate to dividend yield of 2.05 percent or 0.4 sen per share.
The table below is the financial summary for Bioalpha Holdings Bhd.
| FYE 2011 | FYE 2012 | FYE 2013 | FPE Sep 2013 | FPE Sep 2014 | |
|---|---|---|---|---|---|
| Revenue (RM’000) | 14,549 | 19,116 | 24,570 | 11,788 | 18,765 |
| Profit after Tax (RM’000) | 5,431 | 7,152 | 6,339 | 2,776 | 3,734 |
| Earnings per Share (sen)* | 1.17 | 1.54 | 1.37 | 0.80** | 1.07** |
| Price Earnings Ratio (x)* | 17.07 | 12.96 | 14.62 | 25.04** | 18.62** |
* Based on number of shares post IPO
** Annualized
Kenanga Investment Bank is the sole Adviser, Sponsor, Sole Underwriter and Placement Agent of the IPO.
For those who are interested in Bioalpha Holdings IPO, you may subscribe at ATM machines or via Internet Banking. The subscription period is opened until 2nd April 2015 at 5pm. Tentative balloting date is on 6th April while the allotment date is on 13th April 2015.
Bioalpha Holdings stock name in Bursa Malaysia is “BIOHLDG”.
View Bioalpha Holdings prospectus in Bursa Malaysia webpage.
What do you think about Bioalpha Holdings Asia IPO? Are you going to subscribe?
Kenanga Tp is 0.24 , I already apply for it
Good Luck!!