Listing Detail:
Listing Sought: Main Market
Issue Price: RM 1.60
Par Value: RM 0.50

Dates:
Offer Period Open: 27-05-14
Offer Period Close: 11-06-14
Tentative listing date: 26-06-14

Number of shares:
Public Issue: 580,000,000
Offer for Sale: 76,000,000
Private Placement: 163,570,500

Stock Code: BPLANT

Official Announcement

INITIAL PUBLIC OFFERING ("IPO") OF UP TO 656,000,000 ORDINARY SHARES OF RM0.50 EACH IN BOUSTEAD PLANTATIONS BERHAD ("BPB") (" IPO SHARES") COMPRISING AN OFFER FOR SALE OF UP TO 76,000,000 EXISTING BPB SHARES ("OFFER SHARES" ) AND A PUBLIC ISSUE OF 580,000,000 NEW BPB SHARES ("ISSUE SHARES") IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 1,600,000,000 ORDINARY SHARES OF RM0.50 EACH IN BPB ("BPB SHARES") ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD IN THE FOLLOWING MANNER:

A. THE INSTITUTIONAL OFFERING OF UP TO 163,570,500 IPO SHARES COMPRISING UP TO 29,000,000 OFFER SHARES AND 134,570,500 ISSUE SHARES TO MALAYSIAN INSTITUTIONAL AND SELECTED INVESTORS, INCLUDING BUMIPUTERA INSTITUTIONAL AND SELECTED INVESTORS APPROVED BY THE MINISTRY OF
INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING ("INSTITUTIONAL PRICE"): AND

B. THE RETAIL OFFERING OF UP TO 492,429,500 IPO SHARES COMPRISING UP TO 47,000,000 OFFER SHARES AND 445,429,500 ISSUE SHARES TO:


(I) ENTITLED UNITHOLDERS OF AL·HADHARAH BOUSTEAD REIT ("BREIT") (AS DEFINED HEREIN) PURSUANT TO THE RESTRICTED BREIT OFFERING (AS DEFINED HEREIN);

(II) ENTITLED SHAREHOLDERS OF BOUSTEAD HOLDINGS BERHAD ("BHB" ) (AS DEFINED HEREIN) PURSUANT TO THE RESTRICTED BHB OFFERING (AS DEFINED HEREIN);

(III) ELIGIBLE DIRECTORS AND EMPLOYEES OF BPB AND ITS SUBSIDIARIES ("BPB GROUP") AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE BPB GROUP, ELIGIBLE DIRECTORS AND EMPLOYEES OF BHB AND SPECIFIED DIRECTORS OF SELECTED SUBSIDIARIES OF BHB; AND

(IV) MALAYSIAN PUBLIC (AS DEFINED HEREIN),

AT THE RETAIL PRICE OF RM1.60 PER IPO SHARE ("RETAIL PRICE" ),

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND OVER-ALLOTMENT OPTION AS SET OUT IN THIS PROSPECTUS.

THE RETAIL PRICE IS PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO A REFUND OF THE DIFFERENCE IN THE EVENT THAT THE FINAL RETAIL PRICE (AS DEFINED HEREIN) IS LESS THAN THE RETAIL PRICE. THE FINAL RETAIL PRICE
WILL EQUAL THE INSTITUTIONAL PRICE, SUBJECT TO THE FINAL RETAIL PRICE NOT EXCEEDING THE RETAIL PRICE.

Company Overview

Boustead Plantations Berhad provides oil palm and rubber cultivation and processing services. In addition, it offers edible oil bulking, agricultural research, and advisory services. The company was formerly known as Kuala Sidim Berhad and changed its name to Boustead Plantations Berhad in April 2004. The company is based in Kuala Lumpur, Malaysia. Boustead Plantations Berhad operates as a subsidiary of Boustead Holdings Bhd.

Boustead Plantations to focus on acquisitions

PETALING JAYA: Boustead Plantations Bhd, the plantation arm of Boustead Holdings Bhd, which is en-route for listing on Bursa Malaysia's Main Market, will focus on acquiring plantation estates and reserve land primarily in Malaysia over the next three years.
Chairman Tan Sri Lodin Wok Kamaruddin said the plantation arm was interested in growing its plantation assets to 100,000 hectares from 83,000 hectares
currently.
 
He said at present there were several proposals that were being considered by the company.
 
"The priority is to focus on Malaysia, but if some good opportunities emerge  in neighbouring countries such as Indonesia, we will certainly consider them," he told a press conference after the launch of the company's prospectus today.
 
The acquisition, to cost about RM400 million, would be funded by the RM1.049 billion to be raised as proceeds from the Initial Public Offering (IPO).
 
A total of RM928 million will accrue to Boustead Plantations and the balance of RM121 million to Boustead Holdings based on the IPO price of RM1.60 per share.
 
Upon listing, the total enlarged and paid-up share capital of Boustead Plantations will be RM800 million comprising of 1.6 billion shares.
 
The listing comprises the sale of up to 76 million existing shares and a public issue of 580 million new shares to be issued to retail and institutional investors before the over-allotment option.
 
He also said RM390 million from the listing proceeds would be utilised for repayment of  amount owing to Boustead  Holdings Bhd while another RM96 million would be used for replanting.
 
On the outlook for crude palm oil (CPO) prices, Lodin said the company expected prices to improve within the third or fourth quarter, driven by demand from consuming countries such as Pakistan and India, especially with the onslaught of the Ramadhan and Aidil Fitri celebration.
 
"CPO prices are expected to hover between RM2,700 and RM2,800 per tonne," he added.
 
To date, Boustead Plantations owns 41 oil palm estates and 10 palm oil mills in Malaysia with 20 estates in Peninsular Malaysia, 12 in Sabah and nine in
Sarawak. -- Bernama