Listing Detail:
Listing Sought: Main Market
Issue Price: RM 0.54
Par Value: RM 0.20

Dates:
Offer Period Open: 11-06-14
Offer Period Close: 18-06-14
Tentative listing date: 30-06-14

Number of shares:
Public Issue: 90,000,000
Offer for Sale: 55,000,000
Private Placement: 114,500,000

Stock Code: ECONBHD

Official Announcement

PUBLIC ISSUE OF 90,000,000 NEW ORDINARY SHARES OF RM0.20 EACH IN ECONPILE HOLDINGS BERHAD ("SHARES") AT AN ISSUE PRICE OF RM0.54 PER SHARE ALLOCATED IN THE FOLLOWING MANNER:-

I. 27,000,000 SHARES FOR APPLICATION BY THE MALAYSIAN PUBLIC;

II. 3,500,000 SHARES FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES OF ECONPILE HOLDINGS BERHAD AND ITS SUBSIDIARY COMPANIES ("GROUP") AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF THE GROUP;

III. 47,500,000 SHARES FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED INVESTORS; AND

IV. 12,000,000 SHARES FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY

OFFER FOR SALE OF 55,000,000 SHARES AT AN OFFER PRICE OF RM0.54 PER SHARE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY

IN CONJUNCTION WITH THE LISTING OF ECONPILE HOLDINGS BERHAD ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD

Company Overview

Econpile (M) Sdn Bhd was incorporated as a limited company by its founder Mr. The Cheng Eng in September 1987, and over the years through the concerted effort of the team of professionals and highly trained personnel, the company has grown to become the leading specialist foundation and civil engineering contractor in Malaysia.

Econpile (M) Sdn Bhd now owns a large fleet of heavy machineries including top range hydraulic boring rigs, heavy duty crawlers cranes and piling accessories. With a team of committed workforce, the company has successfully undertaken and completed many challenging foundation works within the planned schedule.
 

Key Details

Website: http://site.econpile.com.my/

In the News - Econpile to raise RM48.6mil from IPO

Pilling and foundation specialist Econpile Holdings Bhd plans to raise RM48.6mil from its initial public offering (IPO) exercise.

The company, en route to a listing on the Main Market of Bursa Malaysia on June 30, has launched its prospectus on Wednesday.

"We have laid a strong foundation thus far, and secured a reputable customer base in the construction and property development sector," Econpile group chief executive officer Raymond Pang said at the prospectus launch ceremony.

Econpile is pricing its IPO at an issue price of 54 sen per share.

He said Econpile’s orderbook currently stands at RM450mil, which will last the company up to two years.

"We are tendering for jobs worth between RM1bil to RM2bil mainly in Kuala Lumpur and Johor, and some parts in Pahang," he told reporter after the prospectus launch ceremony.

Econpile IPO entails a public issue of 90 million new share, and an offer-for-sale of 55 million vendor shares.

Of the public issues of 90 million shares, 27 million shares will be for application by Malaysian public, while 3.5 million shares will be allocated to the eligible directors, employees and business associates of Econpile. Meanwhile, 47 million shares will be allocated for private placement to identified directors and 12 million shares for bumiputera investors via private placement.

-- The Star