Followers

Please Click LIKE to like my blog. Thanks for support

Thursday, July 4, 2013

RANHILL ENERGY AND RESOURCES BERHAD IPO

Let us look at the dates first.

Opening of application
04/07/2013

Closing of application
11/07/2013

Balloting of applications
15/07/2013

Allotment of IPO shares to successful applicants
29/07/2013

Tentative listing date
31/07/2013

INITIAL PUBLIC OFFERING OF UP TO 407,000,000 ORDINARY SHARES OF RM1.00 EACH IN RANHILL ENERGY AND RESOURCES BERHAD (“RANHILL”) (“IPO SHARES”) IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 961,766,000 ORDINARY SHARES OF RM1.00 EACH IN RANHILL (“SHARES”) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 77,000,000 EXISTING SHARES (“OFFER SHARES”) AND A PUBLIC ISSUE OF 330,000,000 NEW SHARES (“ISSUE SHARES”) INVOLVING:

(I) INSTITUTIONAL OFFERING OF UP TO 328,721,680 IPO SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING (“INSTITUTIONAL PRICE”); AND

(II) RETAIL OFFERING OF 78,278,320 ISSUE SHARES TO THE ELIGIBLE DIRECTORS AND EMPLOYEES OF RANHILL AND ITS SUBSIDIARIES (“RANHILL GROUP”), PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE RANHILL GROUP AND THE MALAYSIAN PUBLIC, AT THE RETAIL PRICE OF RM1.85 PER SHARE (“RETAIL PRICE”), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND THE FINAL RETAIL PRICE (AS DEFINED HEREIN), IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE,

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND THE OVER-ALLOTMENT OPTION (AS DEFINED HEREIN). THE FINAL RETAIL PRICE WILL BE EQUAL TO THE LOWER OF (I) THE RETAIL PRICE; OR (II) THE INSTITUTIONAL PRICE.

Source: Bursa Malaysia

=============================


This is an outdated news for reference, before I gather more latest information on the IPO.
Published: The Star, Monday January 21, 2013 MYT 11:41:00 AM

KUALA LUMPUR: Ranhill Energy and Resources Bhd, a Malaysian energy and water company, is expected to list on the local stock exchange by the second quarter of this year in a deal that will likely raise more than 1 billion ringgit ($332 million), two sources close to the deal told Reuters.

The initial public offering could be among the first after a general election that Malaysian Prime Minister Najib Razak must call by the end of April. The IPO pipeline in the Southeast Asian country has slowed ahead of the election because of concerns about market volatility, analysts and investment bankers have said.

"Second quarter at the latest, but it depends on the elections," said one of the sources, who declined to be named because the matter was private.

Ranhill Energy officials were not immediately available to comment.

Ranhill Energy, which counts its president and chief executive, Hamdan Mohamad, and regional investment fund Cheval Infrastructure Fund LP among its shareholders, provides engineering services for the onshore and offshore oil and gas, refinery and petrochemical industries.

It also owns and operates two 190-megawatt combined-cycle gas fired turbine power plants in the west Malaysian state of Sabah, and was awarded an exclusive licence by the government to provide source-to-tap water supply services in Johor, the second most populous state in the country.

Ranhill Energy will use about 70 percent of the IPO proceeds to redeem Islamic notes and bonds, 19.1 percent to pay off company acquisitions, 7.1 percent to expand its water business in China, and the rest for listing expenses, according to a draft prospectus filed on Jan. 13.

The company has given no information on the amount of shares to be offered, the pricing, or a timeframe for the IPO.

Ranhill Energy is part of Ranhill Bhd, which was bought out by its management in 2011 for 90 sen per share, valuing the company's equity at 538 million ringgit ($179 million).

Maybank Investment Bank is the principal adviser for the IPO. CIMB Investment Bank and Maybank Investment Bank are the joint global coordinators and bookrunners. They are also the underwriters for the deal.
========================== 

By looking at the RANHILL ENERGY AND RESOURCES BERHAD IPO propestus, there may be lack of growth, but with steady income. Anyway, let me find out more research first and will post here.

Stock Code Stock Name RANHILL.


For more information on recent IPO, here.
http://politemarket.blogspot.com/search/label/IPO


Please support by clicking my blog facebook LIKE.

Thanks

5 comments:

  1. Fair Price may range between how much based on PER model ?

    ReplyDelete
  2. What is the best benchmark of existing stock counter for Ranhill E&R ?

    ReplyDelete
  3. TA securities give FV RM2.14 for PE 13x..

    ReplyDelete
  4. This comment has been removed by the author.

    ReplyDelete

Disclaimer

Disclaimer Clause
The information contained in this blog is my personal diary and has been prepared solely for myself. Without any previous reading material or discussion, by just reading my blog contents, reader may misunderstand the contents.
All the contents I am talking to myself and most contents are hypothetical or imaginary.
This blog has been compiled in good faith, with no intention to cause hurt, loss, or any trouble. No representation is (either express or implied) as to the completeness or accuracy of the information it contains.
This blog also is not an advice, recommendation or an invitation to buy or sell or invest in anything, eg shares, futures, derivatives, gold, etc. Consult your investment adviser before making any decisions.
The copyright of the material contained in my blog remains solely with me. You shall not copy, reproduce and / or distribute this information without my permission.