Closing of application 30/08/2013
Balloting of applications 03/09/2013
Allotment of IPO shares to successful applicants 10/09/2013
Tentative listing date 12/09/2013
SOLID AUTOMOTIVE BERHAD IPO Price RM0.56INITIAL PUBLIC OFFERING IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:
(I) PUBLIC ISSUE OF 35,384,000 NEW ORDINARY SHARES OF RM0.50 EACH ("SHARES") IN THE FOLLOWING MANNER:
- 7,500,000 NEW SHARES AVAILABLE FOR APPLICATION BY THE PUBLIC;- 9,847,500 NEW SHARES AVAILABLE FOR APPLICATION BY OUR ELIGIBLE DIRECTORS, EMPLOYEES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;
- 15,000,000 NEW SHARES AVAILABLE FOR APPLICATION BY BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND- 3,036,500 NEW SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS
(II) OFFER FOR SALE OF UP TO 8,361,000 EXISTING SHARES BY WAY OF PLACEMENT TO SELECTED INVESTORS,
AT AN ISSUE/OFFER PRICE OF RM0.56 PER SHARE, PAYABLE IN FULL UPON APPLICATION
Stock Code Stock Name SOLID
======================According to The Star, the company is founded in 1982, now has seven branches in Malaysia and one in Singapore. Besides the local market, the group has also managed to penetrate into over 30 countries such as Saudi Arabia, UAE, Libya, Ecuador, Indonesia, Syria, Yemen, Thailand, Sri Lanka and Sudan.
Solid Automotive’s subsidiaries Solid Corporation, Twinco, Auto Empire, JBS and Uni Point are involved in the trading and distribution of automotive parts and components as well as remanufacturing of automotive alternators and starters for the passenger and commercial vehicle segments in the automotive aftermarket in Malaysia and overseas.
For more information on IPO, here.
More info on Solid Automotive IPO, here.
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