Initial Public Offering (IPO)

[2bz4money]

Bumi Armada sets IPO at RM2.80-RM3.15

Rilex Apai.

Ada lagi yang lain sedang on the way : Inari, OldTown, Prestriang dan Bumi Armada.

UPDATED @ 06:00:36 PM 27-06-2011
June 27, 2011

KUALA LUMPUR, June 27 — Tycoon T. Ananda Krishnan’s Bumi Armada is raising as much as US$906 million (RM2.7 billion) through a public offering next month, according to a term sheet, in what will be Southeast Asia’s second largest stock offering after Hutchinson Port’s Singapore listing.

The oil and gas service provider’s IPO will list on the Kuala Lumpur stock exchange despite volatility in financial markets that has canned a number of deals in Singapore and Hong Kong.

The IPO has attracted seven cornerstone investors, including Malaysia’s state investment fund Permodalan Nasional and Prudential Fund Management, which have pledged to invest about US$309 million into the deal.

The term sheet seen by Reuters on Monday showed Bumi Armada set a price range for RM2.80 to RM3.15 per share, raising as much as US$906 million — lower than initial expectations of a US$1 billion fundraising.

This reflects some investor skittishness over increased financial volatility due to the Greek debt crisis and inflationary pressures.

Bumi Armada officials could not be reached for comment.

A record US$58 billion worth of IPOs in Asia have been pulled in the first six months by 36 companies, a record and 39 per cent more than a year ago, Thomson Reuters data shows.

“Bumi Armada coming into play will be good for the Malaysian stock market, because we lack these type of headline grabbing IPOs,” said Abdul Jalil Rasheed, a Kuala Lumpur-based fund manager at Aberdeen Asset Management.

“Then again, this is a re-listing and we have to wait and see whether this is a company that can bring in the returns because oil and gas sector is very cyclical,” he said.

Bumi Armada will be the largest offer in Malaysia since the listing of Petronas Chemicals last year.

Bumi Armada is an offshore oil support specialist, and is the only Malaysian company that owns floating production storage and offloading (FPSO) vessels, which carry a premium lease rate.

Bumi Armada was privatised in 2003 by Ananda Krishnan, and a planned relisting in 2008 was delayed due to the global financial crisis. A subsequent relisting plan was also shelved.

The re-listing comes as Malaysia seeks to draw in investment from oil and gas majors like Exxon Mobil and Royal Dutch Shell, to develop new oil and gas assets in country and reverse sluggish output.

The joint global coordinators for the IPO are CIMB , Maybank and Credit Suisse, which are also joint bookrunners with RHB , CLSA and UBS , according to the term sheet. — Reuters

 

[2bz4money]

Stocks to watch - MSM, Eversendai to debut amid cautious

eIpo eversendai saya melalui cimb tak berjaya.
ada sesiapa yg dapat ke eversendai nih?
Main Ipo ni banyak rugi dari untung sejak dapat UOA tempoh hari..
Nak tengok Msm besok, klu harga cun saya nak jual semua, recover balik loss UOA

Written by Joseph Chin
Monday, 27 June 2011 11:30

KUALA LUMPUR: MSM Malaysia Holdings Bhd and Eversendai Corp Bhd will be the two IPOs to watch this week.

Their debut will come amid cautious market sentiment as the Greek debt issue and the slide on Wall Street will weigh on investor sentiment.

It remains to be seen if there will be some late mild window-dressing in the early part of the week as the first half draws to a close.

Investors will also have to await the barrage of economic data this week which could provide an indication on the health of the US economy.

The important economic data due in the US include the personal income and spending for May, the S&P/CaseShiller Home Price Index in April and also the consumer confidence index in June.

Other data due are the pending home sales for May, initial jobless claims, construction spending and June manufacturing data from the Institute of Supply Management.

In Malaysia, there has been a mix of corporate news but MSM and Eversendai’s listing could provide some lift to the market.

MSM’s institutional price was fixed at RM3.50 and for retail investors at RM3.38 per share after the book-building exercise.

AmResearch has valued MSM at RM4.53 per share based on a price earnings ratio (PER) of 10 times financial year 2012 earnings per share. Its PER of 10 times is about 23% below the regional average PER of 13 times ex-Japan and Australia.

The research house said MSM was expected to be a high dividend-yielding stock. It added that the group’s estimated FY11 to FY12 dividend yields of 6% to 7% (based on the IPO price of RM3.50) would be higher than most of the consumer and numbers forecast operator companies. It said MSM plans to pay out 50% of its net profit as dividends every year.

The final institutional price for Eversendai has been fixed at RM1.70 and the final retail price at RM1.62.

OSK Research said the integrated structural steel specialist’s fair value was RM2.21. It projected core earnings growth of 43% for FY11 before tapering off to between 10% and 12% for FY12 to FY13. Its RM2.21 fair value is based on 13.4 times mid-2012 earnings.

Eversendai has an order book of RM1.39 billion, of which 72% is from the Middle East, OSK Research said.

 

[2bz4money]

Rage against the IPO

Published: 2011/06/25

Investing in an IPO with a known brand-name is the only true path for a resounding opening-day premium.

A SUCKER is born every minute, and you could be one of them. Ouch, it really hurts if you are one of the bright souls who had stayed invested in the spate of recent initial public offerings (IPOs).

It has been an irritatingly amusing week, reading the newspapers, on how investing in ACE-listed IPOs, actually boils down to sifting wheat from the chaff.

Being politically correct, a list of all the good ACE-listed companies was also thrown in.

Last I checked with my remisier friends, the only good stock is the one that makes money for you.

And no, I do not want to look at the charts to see if it's a good entry point to buy the battered down likes of XOX Bhd, Ideal Jacobs (M) Corp Bhd, MClean Technologies Bhd and a host of other recent IPOs.

Have the recent IPO valuations been stretched too wide? Will we attempt to have an intelligent discussion on the merits of the valuations if the IPO price had soared like an eagle from the word go?

Will the merchant bankers who helped market the IPOs be in the dock if the IPOs were a resounding success in the open market? The answer to all those questions is probably "No".

That being said, people are furious as they have been losing money, subscribing to IPOs, and this is not restricted to only ACE-listed entities.

Even UOA Development Bhd did not do well. Looking back, it is easy to point out why.

Just compare the role of the market stabiliser for UOA to that of Sunway REIT Bhd's market stabiliser a year ago.

Under Section 9(3) of the Capital Markets and Services Act 2007, Capital Markets and Services (Price Stabilisation Mechanism) Regulations 2008, an investment bank can be given the authority by the share issuer to help stabilise the share price.

The Act also states that the period for any stabilising action will be 30 calendar days starting from the first day of trading on the stock exchange of the relevant securities.

UOA's market stabiliser had done nothing to provide relief to retail investors.

On the converse, Sunway REIT's market stabiliser snapped up more than 30 million shares from the open market, when the company was first listed.

The devil is in what you do, and in this case, the action has been a no-show.

Don't worry, bankers have a new mantra, don't keep your eye on valuations or the role of market stabilisers, as IPOs fail only when the companies are unknown. Hence investing in an IPO with a known brand-name is the only true path for a resounding opening-day premium.

Read more: Rage against the IPO http://www.btimes.com.my

 

[honda_primo]

mcmna nk baka cds acc kt rhb..amik masa lama x??/ingat sok nk g bkak..kalo nk apply IPo nih bleh on the spot ka...atau kn tnggu approval beberapa ari...mitak pencrahan masta2...sgt2 berminat nih

 

[eddie_palco]

uoadev banyak rugi woo..force selling dah..msm kalu mau cover..

 

[2bz4money]

uoadev banyak rugi woo..force selling dah..msm kalu mau cover..

biasalah adat berniaga, ada jual/beli, ada untung/rugi..cuma kena tau susun strategi agar dpt untung dan bukannya rugi..

 

[2bz4money]

mcmna nk baka cds acc kt rhb..amik masa lama x??/ingat sok nk g bkak..kalo nk apply IPo nih bleh on the spot ka...atau kn tnggu approval beberapa ari...mitak pencrahan masta2...sgt2 berminat nih

kalu ada a/k saving kat RHB, eloklah buka CDS a/c dgn RHB jugak..cuba contact RHB dan tanya apa dokumen yg perlu fotostat dan dibawa.

Nak apply eIPO cara Internet Banking, cuma perlu tahu bila IPO kuar dan proses ikut arahan website. Sila baca page 1 untuk maklumat lanjut..

 

[repasi]

apa prestasi msm hari ni?tak follow sebab tak dapat ipo msm nih

 

[zaemon]

apa prestasi msm hari ni?tak follow sebab tak dapat ipo msm nih

Dah naik smp 4.55 bro...listing 3.50 jer..memang untung giler2

 

[zamans98]

MSM - ramai yg tersenyum bahagia. I tumpang bahagia je la. MITI tak dapat, try e-IPO tak dapat, try Private Placement pun tak dapat satu share pun!!