Inari Bhd, an electronic manufacturing services provider is schedule to be listed in ACE Market on 19th July 2011.
The IPO consists of public issue of 83 million new ordinary shares at an IPO price of RM0.38 per share with RM0.10 par value.
Out of this, 10 million shares are allocated to Malaysian public. The rest are allocated to identified investors and eligible directors, employess and person who contributed to Inari Berhad.
The IPO will raise RM15 million in proceeds which will be used for capacity expansion. Under the expansion plan, Inari will procure new production equipment, machineries and also build a new facility to further increase its existing production capacity by 46 percent.
More information regarding the company can be found in Inari webpage.
Inari intends to pay up to 40 percent of their net profit as dividend. They also may pay special dividend if the financial position permits. Based on 2010 figures & IPO price, this translate to annual dividend yield of 4.81 percent.
The table below is financial summary for Inari Bhd.
| FYE 2008 | FYE 2009 | FYE 2010 | 6M FPE 2010 | 6M FPE 2011 | |
|---|---|---|---|---|---|
| Revenue (RM’000) | 100,232 | 123,357 | 154,800 | 78,019 | 80,418 |
| Profit after Tax (RM’000) | 7,885 | 11,458 | 15,151 | 6,438 | 7,345 |
| Earnings per Share (sen) | 2.38 | 3.46 | 4.57 | 3.88* | 4.43* |
| Price Earnings Ratio (x) | 15.98 | 11.00 | 8.32 | 9.79* | 8.58* |
* annualized
M&A Securities is the Adviser, Sponsor, Underwriter & Placement Agent while Public Investment Bank is the Independent Advisors for the IPO.
For those who are interested in Inari 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.
View Inari Bhd prospectus in Bursa Malaysia webpage. Inari Bhd stock name in Bursa Malaysia is “INARI”.
What do you think about Inari IPO? Are you going to subscribe?
What is 2011Q1 report as closing for IPO tomorrow?
Other IPO like Bumi, Catcha, Prestariang already posted in KLSE
what is opinion for this IPO? any comment ?
Limyj, for me Inari is good IPO to apply. Dividend yield is reasonably well. Also we can see growth in their business.
that right. DY for inari better prestaring. if possible sharehloder will get special bonus
thanks for u advise. how about fair Value / target Price for this IPO?
Fair Value/ Target Price for Inari
TA – RM0.41
Inari declared interim dividend of 1.8 sen. Ex date is 8th August.
So, if I buy shares in open market now, I would still qualify for dividend?
Yes as long as you buy before 8th August.