Industrial Product Sector

Boilermech Holdings Berhad Initial Public Offering (IPO) received an overwhelming response with its Malaysian public portion of 8 million shares. It was oversubscribed by 66.32 times.

The IPO attract 14,652 applications or 538.6 million shares. For the Bumiputera portion, a total of 5,624 applications were received while under the Malaysian public category a total of 13,365 applications were received.

Below are the allotment summary

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Boilermech Holdings Bhd, a biomass boiler manufacturer is schedule to be listed in ACE Market on 5th May 2011.

Boilermech’s IPO consists of public issue of 34.9 million new ordinary shares at an IPO price of RM0.33 per share with RM0.10 par value. Out of this, 8 million shares are allocated to Malaysian public.

On top of new shares issues, 13.5 millions of existing shares are for sale to identified and Bumiputera investors.

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K Seng Seng Corp Bhd (KSSC), a supplier of secondary stainless steel products, is schedule to be listed in Main Market on 18th January 2011. The company, was established in 1985 under the name of Vinylon Industries Sdn Bhd. On 20 June 1986, the companny name was changed to K. Seng Seng Sdn Bhd

KSSC’s IPO consists of a public issue of 20 million ordinary shares at an IPO price of RM0.57 per share with RM0.50 par value.

6 million shares will be allocated for the Malaysian public, 9 million shares for identified bumiputera investors and 5.1 million shares for eligible directors, employees and business associates of the group. On top of that 22.2 million shares will be allocated for placement to identified investors.

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Petroliam Nasional Berhad

Petronas Chemical Group’s IPO is one of two offerings to be launched by government-run Petronas in response to Prime Minister Najib Razak’s call to reduce state ownership in the private sector and boost liquidity in the stock market when unveiling NEM early this year.

Petronas has filed a draft prospectus for an initial public offering (“IPO”) of its entire petrochemicals business. The new entity, Petronas Chemical Group Berhad (“PCGB”) is formed  by merging of 22 Petronas wholly owned or majority owned subsidiaries. PCGB has total assets of about RM27 billion as of March 2010.

Petronas Chemical Group’s IPO will be the country’s second largest IPO after Maxis Communication Berhad. PCGB is expected to be listed next month

The draft prospectus on the Securities Commission website did not state how much PCGB is seeking to raise but banking sources have put the value of the firm at over $2 billion (RM 6.2 billion).

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