MClean Technologies Bhd, a precision cleaning and plastic injection moulding service provider in Singapore is schedule to be listed in ACE Market on 10th May 2011.
MClean Technologies’s IPO consists of public issue of 15.4 million new ordinary shares at an IPO price of RM0.52 per share with RM0.25 par value. The issues come with 7.7 million free warrants. Out of this, 2.7 million shares & 1.35 million free warrants are allocated to Malaysian public.
On top of new shares issues, 11 millions of existing shares come with 5.5 million free warrants are for sale to identified investors.
The IPO will raise RM8 million in proceeds. Out of this, 30 per cent of the proceeds would be utilised for capital expenditure and 41 per cent for working capital purposes while the rest for listing expenses. Part of the proceeds is for expansion to China to boost up capacity by double digit.
MClean Technologies was incorporated as a private limited company in Malaysia on 17th March, 2010.
The company that specializes in the hard disk drive (HDD) industry, has a market leadership and technological competence in precision cleaning.
MClean has a reputation and long-standing working relationship with major HDD industry players provides the leverage and benefit to secure continued cleaning jobs in Singapore as well as neighbouring HDD hubs such as, Malaysia, Thailand and China.
More information about MClean Technologies can be found in their webpage.
Currently, MClean Technologies has no fixed dividend policy.
The table below are financial summary for MClean Technologies Bhd.
|FYE 2007||FYE 2008||FYE 2009|
|Profit after Tax (RM’000)||1,648||(2,180)||1,908|
|Earnings per Share (sen)||1.62||(2.14)||1.87|
|Price Earnings Ratio (x)||32.18||-24.33||27.80|
Kenanga Investment Bank is the sole principal adviser,managing underwriter, underwriter and placement agent for the IPO.
For those who are interested in MClean Technologies IPO you may subscribed at ATM machines or via Internet Banking.
The subscription period is opened until 28th April 2011 at 5pm. Tentative balloting date is on 3rd May while allotment date is on 9th May 2011. View MClean Technologies Bhd prospectus in Bursa Malaysia webpage.
MClean Technologies Bhd stock name in Bursa Malaysia is “MCLEAN”.
What do you think about MClean IPO? Are you going to subscribe?