Listing Detail:
Listing Sought: ACE Market
Issue Price: RM0.61
Dates:
Offer Period Open: 13 May 2019
Offer Period Close: 24 May 2019
Tentative listing date: 13 Jun 2019
Number of shares:
Public Issue: 119,750,000
Private Placement: 91,580,000
Stock Code: GREATEC
INITIAL PUBLIC OFFERING ("IPO") IN CONJUNCTION WITH THE LISTING OF GREATECH TECHNOLOGY BERHAD ("GREATECH TECHNOLOGY" OR THE "COMPANY") ON THE ACE MARKET OF BURSA MALAYSIA SECURITIES BERHAD ("BURSA SECURITIES") COMPRISING PUBLIC ISSUE OF 119,750,000 NEW ORDINARY SHARES ("SHARES") IN THE FOLLOWING MANNER:
AT AN ISSUE PRICE OF RM0.61 PER SHARE, PAYABLE IN FULL UPON APPLICATION.
Greatech Technology Berhad, an industrial automation solutions provider, provides solutions in the areas of factory automation. The company specialises in the manufacturing of a range of equipment for solar, electronics and automotive industries. The company was founded in 1993 and is based in Bayan Lepas, Malaysia.
Address & Contact:
Plot 287(B) & 287(C), Lengkok Kampung Jawa 1
Phase 3 Bayan Lepas Free Industrial Zone
11900, Penang, Malaysia
Tel: +604 646 3260
Fax: +604 646 3261
Email: info@greatech-group.com
Website: https://greatech-group.com/
KUALA LUMPUR (May 13): Greatech Technology Bhd, an industrial automation solutions provider, aims to raise RM73.05 million from its initial public offering (IPO), said chief executive officer Tan Eng Kee.
Of the total proceeds, RM18 million would be utilised for business expansion and development and marketing activities, RM5 million for capital and research and development expenditure and RM36.55 million for working capital, he said.
Meanwhile, the remaining RM8.5 million would be used for repayment of bank borrowings and defrayment of IPO expenses, he said.
"We try to expand our footprint in the US market, so we are going to establish an office, engineering sales and services support in the country and small portion in China.
"We are looking at the east coast, Arizona and some in the area of Silicon Valley... (hope to start to commence) in the second half of this year," he told press conference after launching the company's prospectus here today.
Greatech Technology will be listed on the ACE Market of Bursa Malaysia Securities Bhd, offering 119.75 million shares, where 18.78 million of the shares are eligible for the public, with an IPO price of 61 sen per share.
The group is slated for listing on June 13, with a market capitalisation of RM381.86 million.
Asked on why the US market is selected, Tan said the country is always ahead in terms of technology innovation and believed its unemployment rate is much better than other regions.
"Majority of the expansion allocation will be set aside for US market," he said.
For the financial year ended Dec 31, 2018, the group recorded a revenue of RM219.58 million and tax after profit of RM31.72 million with approximately 90% of the revenue derived from overseas.
Its 2017 revenue amounted to RM93.91 million, higher than RM22.7 million it chalked in 2016 and RM21.39 million in 2015.
Tan said the group targeted between 10% and 15% growth in revenue this year, backed by a slew of new projects coming up from the new and existing clients.
Also present to witness the launch of the prospectus was Malaysian Technology Development Corporation (MTDC) CEO Datuk Norhalim Yunus who believed Greatech Technology's excellent growth trajectory would easily push the IPO for premium performance during the listing.
“The group is in the right industry, namely in automation and robotics, besides solar, which currently expanding rapidly.
“I believe they have a bright future with a formidable list of clients,” he said.
The group received fundings from MTDC for Commercialisation of Research and Development Fund, Technology Acquisition Fund and Business Growth Fund.
-- Bernama
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HPMT management also did not support the 10% share price free fall yesterday. Greatech management anytime better take care of IPO investors.
2019-06-13 09:38
They name themself
Greatech mean greatest lah !
Don't just stand n look, find best timing to crush with her.
Kiki
2019-06-13 09:40
MI members also sold to goreng greatec…...soon be making another house.no need everyday contra,just hentam once in a blue moon enough.....hahaha
2019-06-13 09:56
bought at 63.5cts keep until above 1.30 make 100% or more then sell.....hahaha
2019-06-13 09:59
One day only can make 10 sen here, u better than Warren Buffet lor........! :-)
2019-06-13 10:14
warren buffet buy billions,we buy millions only how to be like him? make 1 house enough lah…...hehe
2019-06-13 10:18
but today great start already,making 1 car not enough greedy wanna make 1 house but hold a few months and see.....hahaha
2019-06-13 10:20
this easy make money stock,buy and no need to see,after a few months only dump to sochais that chase that time......just like MI......hahaha
2019-06-13 12:15
Ending Financial Dec 2018, Profit after tax 31.72mil, share issued 120mil, EPS 26sens, Stock price now 0.72 equivalent to PE 2.67???
2019-06-13 12:23
May retrace back to 0.700-0.750
before chiong 996 the 0.780
Greatect the greatest lover
2019-06-13 14:54
0.790 以上
不建议追高买入了
只要0.775 以上, 可以继续守护。
0.820-0.850 应该要止盈 2/3 position , 不可太贪恋。
2019-06-14 09:31
Trouble Huat
this nice. can goreng.
2019-06-12 21:22