Karex Bhd, rubber products manufacturer is scheduled to be listed in Main Market of Bursa Malaysia on 6th November 2013.
The Initial Public Offering (IPO) consists of public issues of 40.5 million new ordinary shares and offer for sale of 27 million ordinary shares at an IPO price of RM1.85 per share.
Out of this, 13.5 million shares are allocated for application by Malaysian public and 6.8 million shares reserved for the eligible directors, employees, business associates and person contribute to the company. The remaining shares are for institutional & private placement.
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Solid Automotive Bhd, an automotive parts trader and distributor is scheduled to be listed in Main Market of Bursa Malaysia on 12th September 2013.
The Initial Public Offering (IPO) consists of public issues of 35.4 million new ordinary shares and offer for sale of 8.36 million ordinary shares at an IPO price of RM0.56 per share and RM0.50 par value.
Out of this, 7.5 million shares are allocated for application by Malaysian public and 9.8 million shares reserved for the eligible directors and person contribute to the group. The remaining shares are for private placement.
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Further update in connection with the suspension of the licence issued by Petronas to Perunding Ranhill Worley Sdn Bhd (“PRW”), an affiliate of Ranhill, PRW had on 25 July 2013 received a letter dated 25 July 2013 from Petronas stating that
(i) For upstream activities, Petronas agrees to uplift the suspension of PRW
(ii) For downstream activities, the suspension remains unchanged.
In view of this issue, Ranhill Energy and Resources Board of Directors decided to withdraw the application for the IPO. All application and placement monies for the IPO will be refunded to all applicants and investors without interest no later than 7 August 2013.
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Ranhill Energy and Resources Berhad, an energy and water company which is scheduled to be listed in Main Market of Bursa Malaysia on the 31st July 2013 decided to delay its IPO.
The decision came after a state oil firm Petronas suspended the licence of Perunding Ranhill Worley Sdn Bhd (“PRW”) for an indefinite period starting 17th July 2013. PRW is owned 51% by Ranhill and 49% by Australia’s WorleyParsons Ltd. On the 18th July 2013, Ranhill submitted an appeal to Petronas against the suspension and is currently awaiting formal response on the appeal.
The licence enables PRW to bid for Malaysian projects awarded by Petronas, which has pledged to spend RM300 billion in capital expenditures between 2011 and 2015.
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Ranhill Energy and Resources Berhad, a energy and water company is scheduled to be listed in Main Market of Bursa Malaysia on the 31st July 2013.
The Initial Public Offering (IPO) consists of 407 million shares at an indicative IPO price of RM1.85 per share at RM1.00 par value. Out of these, 328.7 million shares will be offered to institutional investors, while 78.3 million shares will be offered to retail investors including eligible directors, employees & Malaysian public.
The institutional price will be determined by way of book building while for the retail application, it is payable at RM1.85 upon application. If the final retail price is lower, the difference will be refunded accordingly.
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