UOA Development Bhd, a property development and construction company is schedule to be listed in Main Market on 8th June 2011.
The Initial Public Offering (IPO) consists of 407 million ordinary shares at an IPO price of RM2.90 per share at RM0.05 par value. However, the final retail price will be equal to the 97% of the institutional price.
Out of 407 million shares, 337 million shares are offered to Malaysian and foreign institutional and selected investors (including bumiputera investors approved by the International Trade and Industry Ministry) and a retail offering of 70 million shares to the Malaysian public, eligible directors and employees of UOA Development, its subsidiaries and persons who have contributed to the success of UOA and its subsidiaries
UOA Development a unit of Sydney and Singapore listed United Overseas Australia Ltd is involved in property development, construction and property investment. Its development projects are in matured and prime locations, centralized within the Klang Valley.
As at Dec 31, 2010, UOA Development has a total saleable and lettable area of more than 300,000 sq m of properties under development with an estimated gross development value (GDV) of RM2bil to be completed over the next three years.
The company has a further total potential saleable and lettable area of more than 1.2 million sq m being held for future development projects with an estimated GDV in excess of RM8bil.
More information regarding the company can be found in UOA Development webpage.
UOA Development intends to pay between 30 to 50 percent of profit after tax as dividend but it is subjected to board and shareholders approval. At an IPO price of RM2.90, the dividend yield is between 3.38 to 5.63 percent based on 2010 figures.
The table below is financial summary for UOA Development Bhd.
|FYE 2008||FYE 2009||FYE 2010|
|Profit after Tax (RM’000)||161,451||177,595||289,762|
|Earnings per Share (sen)||14.79||16.73||32.66|
|Price Earnings Ratio (x)||19.61||17.33||8.88|
The underwriters for the IPO were CIMB Investment Bank Bhd, RHB Investment Bank Bhd, OSK Investment Bank Bhd, HwangDBS Investment Bank Bhd and Hong Leong Investment Bank Bhd
For those who are interested in UOA Development IPO, you may subscribed at ATM machines or via Internet Banking. The subscription period is opened until 25th May 2011 at 5pm for retail offering and 26th May for institutional offering. Tentative balloting date is on 27th May while allotment date is on 6th June 2011.
View UOA Development Bhd prospectus in Bursa Malaysia webpage.
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