So far, 2011 is a good year for Initial Public Offering (IPO) listing in Bursa Malaysia. At the time of writing, there were 14 new IPOs listed. Out of these figure 8 IPOs were listed in the Main Market while 6 were listed in ACE Market.
All the IPOs debuted higher than IPO price on the first day of listing. However, 3 out of the stocks close lower than IPO price at the time of writing.
If you are interested to apply for upcoming IPO, take a look at the following table which shows the upcoming IPO for 2011.
OSK have no buy calls among the semiconductor companies and HDD component manufacturers under their coverage.
Although share prices have largely retraced from respective peak valuation since 2009, OSK remain wary of potential earnings shortfall should Ringgit appreciation accelerates, potential component shortages insemiconductor supply chain materializes, or weak sentiment in the consumer PC marketprevails.
Hence, OSK maintain UNDERWEIGHT recommendation on the sector.
Below are the target prices/fair favue and ratings for selected technology stocks.
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.
ManagePay Systems Bhd, a technology solutions provider focusing on a variety of ICT and technology-related business, is schedule to be listed in ACE Market on 15th March 2011.
ManagePay Systems’s IPO consists of 45.8 million ordinary shares at an IPO price of RM0.16 per share with RM0.10 par value.
9.2 million shares will be allocated for the Malaysian public, 3.7 million shares for eligible employees and 32.9 million shares will be for private placement to identified investor. The IPO will raise in RM7.3 million in proceeds.
Century Software Holdings Bhd (CSHB), a company specialized in financial management software solutions (FMSS), is schedule to be listed in Main Market on 31st January 2011. The company, was established on 8th August 2008.
CSHB’s IPO consists of a public issue of 23 million or new ordinary shares and an offer-for-sale of 10.9 million vendor shares at an IPO price of RM0.93 per share with RM0.10 par value.
Of the public issue of 23 million new shares, 8.55 million shares are for private placement to selected investors, 5.8 million shares for eligible directors, employees and business associates and 8.65 million shares for the public via balloting process.