IPO Malaysia
IPO - Icon Offshore Berhad (ICON)
Listing Detail:
Listing Sought: Main Market
Issue Price: RM 1.85
Par Value: RM 0.50
Dates:
Offer Period Open: 30-05-14
Offer Period Close: 6-06-14
Tentative listing date: 25-06-14
Number of shares:
Public Issue: 221,745,000
Offer for Sale: 289,022,000
Private Placement: -
Stock Code: ICON
Official Announcement
INITIAL PUBLIC OFFERING OF UP TO 510,767,000 ORDINARY SHARES OF RM0.50 EACH IN ICON OFFSHORE BERHAD (“ICON”) (“IPO SHARES”) IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR THE ENTIRE 1,177,185,100 ORDINARY SHARES OF RM0.50 EACH IN ICON (“SHARES”) ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING AN OFFER FOR SALE OF UP TO 289,022,000 EXISTING SHARES (“OFFER SHARES”) AND A PUBLIC ISSUE OF 221,745,000 NEW SHARES (“ISSUE SHARES”) INVOLVING:
(I) INSTITUTIONAL OFFERING OF UP TO 460,148,000 IPO SHARES TO BE ALLOCATED IN THE FOLLOWING MANNER:
(A) UP TO 324,772,000 IPO SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS; AND
(B) 135,376,000 ISSUE SHARES TO 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 50,619,000 ISSUE SHARES TO BE ALLOCATED IN THE FOLLOWING MANNER:
(A) 35,316,000 ISSUE SHARES MADE AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC VIA BALLOTING; AND
B) 15,303,000 ISSUE SHARES RESERVED FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES OF ICON AND ITS SUBSIDIARIES ("ICON GROUP") AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE ICON GROUP,
AT THE RETAIL PRICE OF RM1.85 PER SHARE (“RETAIL PRICE”), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO A REFUND OF THE DIFFERENCE BETWEEN THE RETAIL PRICE AND 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 EQUIVALENT TO THE LOWER OF: (I) THE RETAIL PRICE; OR (II) THE INSTITUTIONAL PRICE.
Company Background
Icon offshore Berhad (“ICON” or “the Company”) is the largest pure-play offshore support vessel (OSV) provider in Malaysia and one of the largest in Southeast Asia in terms of number of OSVs, according to the Infield Report. ICON owns and operates one of the youngest, fastest growing and most sophisticated fleets of OSVs in Southeast Asia to provide a wide range of logistical support services throughout the entire offshore oil and gas life cycle, from exploration and appraisal, field development and operation and maintenance, through to decommissioning. ICON is a Malaysia-based OSV provider and all of the vessels are Malaysian-flagged.
ICON is the largest pure-play OSV provider in Malaysia and one of the largest in Southeast Asia in terms of number of OSVs, according to the Infield Report. ICON own and operate one of the youngest, fastest growing and most sophisticated fleets of OSVs in Southeast Asia to provide a wide range of logistical support services throughout the entire offshore oil and gas life cycle from exploration and appraisal, field development and operation and maintenance, through to decommissioning.
Website: http://www.iconoffshore.com.my/
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Discussions
1 person likes this. Showing 50 of 189 comments
the shark has wake up after watch world cup. After taken the breakfast, the shark will start work to "goreng up"
better buy now before it too late.
2014-06-25 09:56
don't worry. it will go back to 2.12 today.
the shark and the icon have the same strong name.
shark = icon
icon = shark
father = son
2014-06-25 10:06
It will be at rm2 for today n probably this week. Make people gerammmm n sell early ma. You think chua ma you will see meh ? He will only sell after rm2.50. Patienceeeee patienceee.. I learnt fr umwog n SEM
2014-06-25 10:28
Icon will be like umwog..my target price 2.50 above..last time when umwog first day listing..i said gonna go above 4..some one laugh..so just be patience..this stock will reward u..cheers..
2014-06-25 10:39
Yo bro Saufi. How r u ? Buying some more at rm2 ? I am trying to get below rm2.
I agree wif u that within 6 mths can reach rm2.50. Profile n movement almost same as umwog.
2014-06-25 10:43
for umwog there was no direct comparison. SKPETRO is close but not exact.
but for Icon there is a direct comparision in Alam. How can Icon go up ahead of Alam, when Alam is fundamentally stronger than Icon?
2014-06-25 10:46
Icon profile same as umwog? Icon profile same as Alam. Both OSV biz. Umwog is rig provider. different.
2014-06-25 10:49
Technically n fundamentally u are correct. But our market is very sentiment driven. Some valuation can be as high as 30x-50x while it's peers are at 3x-5x per. I would still put my money in icon.
2014-06-25 10:51
my money is in Alam. we'll see which better at end of this year. Alam now 1.56, Icon 2.01.
2014-06-25 10:58
sifu zam saham how to explain to your student about ICON.. sure pening kepala ma....
2014-06-25 11:28
"I Kena Con" "I Kena Con" ....not Icon lorrrr.. Tukar nama tukar nama...wakaka... RM 1.50 mari RM 1.50 mari....
2014-06-25 11:33
Explanation is don look at short term price fluctuation. Look at midterm to long term...
2014-06-25 11:38
alam cannot fight with icon
alam par value is 25 sen and total share is 930 mil
icon par value is 50 sen and total share is 1170 mil
if compare on the par value, alam more expensive.
buy icon !!!!!!!!!!!!!!!!!!
2014-06-25 11:44
brooooo...releksss... why so takut.....u buy own your risk....if drop more.... u tido la.....when it up u wake up la....
2014-06-25 11:53
hahahaha...no easy money la bro...before buy study first....then u decide...dont too dependent to your sifu... follow your heart...anyway the money is your..
2014-06-25 11:57
closing 11c above...looking forward for evening session...
1st day listing surely want to push up to 20c closing...
2014-06-25 12:34
compare icon and posh which is just listed in spore .
icon - price rm 1.85 and pe is 18x
posh- price rm 2.87 ( Sing dollar at 1.15) and pe is 23x
therefore, icon still can go up as it is a glc company with ekuinas holding 41% after ipo.
alam is not a strong contender to icon. Only posh is strong contender.
2014-06-25 12:52
jolie2, go look at Icon prospectus. They even say Alam is their direct competitor. Guess you didn't read the prospectus, simply buy.
2014-06-25 15:30
good news for Icon :
http://announcements.bursamalaysia.com/EDMS/edmsweb.nsf/all/C29A85E12207CA0D48257CF30036C1BC/$File/MIB%20letter_Stabilisation%20Action.pdf
2014-06-25 15:37
ok-lah. i don't care who is their competitor and also i don;t read the prospectus but simply buy.
But i think ICON one day will really become Msia's ICON.
if not, cannot simply use this name one. Somemore, they put msia flag on their OSV, just like MAS. Hopefully, won;t turn turtle like MAS.
2014-06-25 16:18
Haha actually I also never read prospectus, jus read profit, NA and shareholders...so,shy lea...
2014-06-25 16:37
Year end only look at Icon n alam px see speakup or me win the race...
2.01 n 1.56. This round I kalah already...
2014-06-25 16:39
Do you know what is the original shareholder entry price? Par value is 50sen, so their entry cost is 50cents or even lower as they would have split RM 1 to 50 cents. Don't you think it makes sense for existing shareholders to sell at RM1.85, to cash out first.
2014-06-30 17:27
Icon Offshore offloads one ship, adds another: http://www.seashipnews.com/News/Icon-Offshore-offloads-one-ship--adds-another/3w3c2505.html
2014-08-11 08:28
Icon enters Brunei via new joint venture: http://www.seashipnews.com/News/Icon-enters-Brunei-via-new-joint-venture/3w3c2534.html
2014-08-18 15:06
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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2014-06-25 09:36