Revenue for FY2023 was 145 mil. According to its latest quarterly report Q1FY2024, revenue was only 22.7 mil. It expects that the orders from some of its existing customers will remain softened for the first half of FYE 30 June 2024 and rebound in the second half of FYE 30 June 2024. Next QR is not going to be exciting as well. Price targets given before QR (reported on November 30th) may need downward adjustment.
This makes its evaluation unattractive at IPO price. Besides, industrial product and technology counters have been down recently.
It will not surprise me if its share price does not perform well during the first day. Let see.
The IPO involves the issuance of Shares in the following manner:
(1) Public issue of 167,828,700 Issue Shares in the following manner: • 33,566,000 Issue Shares made available for application by the Malaysian public, of which 16,783,000 issue shares will be set aside for application by Bumiputera investors including individuals, companies, cooperatives, societies and institutions; • 83,915,000 Issue Shares made available by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry, Malaysia (“MITI”); • 50,347,700 Issue Shares made available by way of private placement to institutional and selected investors, other than identified Bumiputera investors approved by the MITI; AND
(2) Offer for sale of up to 67,131,000 Offer Shares by way of placement to institutional and selected investors, other than identified Bumiputera investors approved by the MITI.
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....
Keqing Tan
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Posted by Keqing Tan > 2023-11-21 11:23 | Report Abuse
is it last ipo of the year? seems good but price a bit high not sure want to apply or not