Bumi Armada Bhd, a leading international offshore oil field services contractor, is schedule to be listed in Main Market on 21st July 2011.
The Initial Public Offering (IPO) consists of 878.5 million ordinary shares at an IPO price of RM3.15 per share at RM0.20 par value.
Out of 878.5 million shares, 798.7 million shares are offered to Malaysian and foreign institutional and selected investors and a retail offering of 79.86 million shares to the Malaysian public and directors & employees of Bumi Armada Berhad.
Bumi Armada was privatised in 2003 by T. Ananda Krishnan. Re listing plan in 2008 was delayed due to the global financial crisis.
The IPO has attracted seven cornerstone investors, including Malaysia’s state investment fund Permodalan Nasional Bhd and Prudential Fund Management Bhd, which have pledged to invest about US$309 million (RM945.54 million).
Bumi Armada is an offshore oil support specialist, and is the only Malaysian company that owns floating production storage and offloading vessels
Based on at the number of FPSO (floating production, storage and offloading) vessels it operates, Bumi Armada is now number eight in the world ranking. With the new FPSO that is going to start operation in August, Bumi Armada would make it number six in the ranking.
More information regarding the company can be found in Bumi Armada webpage.
For the time being, Bumi Armada, does not have any fixed dividend policy.
The table below is financial summary for Bumi Armada Bhd.
|FYE 2008||FYE 2009||FYE 2010|
|Profit after Tax (RM’000)||150,023||277,442||350,755|
|Earnings per Share (sen)*||5.12||9.47||11.98|
|Price Earnings Ratio (x)*||61.49||33.25||26.30|
* Based on number of shares post IPO
CIMB, Maybank and RHB Bank is the joint principal sole adviser of the IPO.
For those who are interested in Bumi Armada IPO, you may subscribed at ATM machines or via Internet Banking. The subscription period is opened until 7th July 2011 at 5pm. Tentative balloting date is on 11th July while allotment date is on 19th July 2011.
Bumi Armada Berhad stock name in Bursa Malaysia is “ARMADA”.
View Bumi Armada prospectus in Bursa Malaysia webpage.
What do you think about Bumi Armada IPO? Are you going to subscribe?