Gas Malaysia Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 25.68 million shares. It was oversubscribed by 21.64 times. The IPO attract 44,561 applications or 581.4 million shares.
The Institutional Price was fixed at RM2.20 per Offer Share. Accordingly, the Final IPO Price for the Retail Offering is fixed at RM2.20 per Offer Share.
The IPO allocate 25.68 million shares for public. Of these, 12.86 million shares were allocated for Bumiputera category while 12.86 million shares were allocated for Malaysian Public category.
Below are the allotment summary for public portion.
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While the prices of various steel products have risen 5% to 10% to date,
OSK is not overly excited since this relatively small increase took place during a seasonal peak period.
Furthermore, iron ore and scrap metal prices bounced backed strongly almost immediately after the abrupt plunge in Oct 2011 and continued to stay at relatively high levels.
Although scrap metal and iron ore fine prices averaging USD450 and USD140 a tonne respectively in 2012, OSK stills expect steel prices to face downward pressure as steelmaking operations continuing to experience meager margins in the medium term.
Below are the target price/fair value and rating for selected stocks in steel sector.
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Pestech International Berhad Initial Public Offering (IPO) received an overwhelming response with its public portion of 6.0 million shares. It was oversubscribed by 10.47 times. The IPO attract 5,650 applications or 68.8 million shares.
In addition, 3.6 million shares made available for private placement to identified investors have been placed out.
The IPO allocate 6.0 million shares for public. Of these, 3.0 million shares were allocated for Bumiputera category while 3.0 million shares were allocated for Malaysian Public category.
Below are the allotment summary for public portion.
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Recently, during OSK’s small cap corporate day, OSK unveiled their 2012 Jewels. OSK Jewels actually is a list of small caps stock picks by OSK. They expect OSK Jewels to perform reasonably well during 2012. For the 2012 list, there are 31 stocks in the list.
The top picks are DAYANG (FV: RM2.34), JOHORETIN (FV: RM1.51), PRESTARIANG (FV: RM1.48) and TAKAFUL (FV: RM4.42).
Below are the full list of OSK 2012 Jewels.
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Gas Malaysia Bhd, the sole supplier of natural gas to the non-power sector is scheduled to be listed in Main Market of Bursa Malaysia on 11th June 2012.
The Initial Public Offering (IPO) consists of offer for sale of 333.84 million ordinary shares at an indicative price of RM2.20 per share at RM0.50 par value. The final price will be the lower of RM2.20 and institutional price.
Out of 333.8 million offer for sale shares, 303.3 million shares are for selected & institutional investors, while 30.5 million shares for application by Malaysian public eligible directors and employees of Gas Malaysia Berhad.
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