As rumors earlier, Felda Group’s commercial arm, Felda Global Ventures Holdings Sdn Bhd, will list its sugar business, Malayan Sugar Manufacturing (MSM) on the Main Board of Bursa Malaysia in July.
This was announced by Prime Minister Datuk Seri Najib Tun Razak at Invest Malaysia 2011 conference.
This is first Initial Public Offering (IPO) within Felda Group. The listing would enhance Felda’s leading position in the sugar industry, providing the group with an opportunity to gain recognition in the capital markets and allowing it to realize its investment while retaining control of its asset
Focus Lumber Bhd, Sabah’s based manufacturer of plywood, veneer and laminated veneer lumber (LVL), is schedule to be listed in Main Market on 28th April 2011.
Focus Lumber’s IPO consists of public issue of 12.2 million new ordinary shares at an IPO price of RM0.60 per share with RM0.50 par value. Out of this, 9 million shares are allocated to Malaysian public.
On top of new shares issues, 5.2 millions existing shares are for sale to identified and Bumiputera investors.
Smartag Solutions Berhad Initial Public Offering (IPO) received an overwhelming response with its Malaysian public portion of 2 million shares. It was oversubscribed by 268.06 times. The IPO attract 11,845 applications or 538.1 million shares.
For the Bumiputera portion, a total of 4,191 applications for 139.3 million shares were received which represents an oversubscription rate of 138.17 times while under the Malaysian public category 10,676 applications. 50 million shares made available for private placement have been fully place out.
Below are the allotment summary
Felda Global Ventures Holdings Sdn Bhd, the commercial arm of the Federal Land Development Authority (FELDA), plans to list five (5) of its subsidiary in Bursa Malaysia. CIMB and Maybank Investment Bank will be arrange these IPOs.
The fist IPOs will be its sugar operations, Malayan Sugar Manufacturing (MSM) which plan to be listed this year. MSM IPOs may raise more than RM1 billion. This could also make it one of the biggest IPOs for the year.
The IPOs will help Felda Global to fund its expansion. It plans to expand by buying land abroad in countries like Indonesia and probably as far as Africa, where oil palm trees originally came from.
Smartag Solutions Bhd, a provider of total Radio-frequency identification (RFID)-based solutions, is schedule to be listed in ACE Market on 18th April 2011.
Smartag Solutions’s IPO consists of public issue of 57 million new ordinary shares at an IPO price of RM0.31 per share with RM0.10 par value.
50 million shares are to be issued to identified investor, 2 million shares will be allocated for the Malaysian public and 5 million shares for eligible employees and person who contributed to the company.