PERWAJA HOLDINGS BERHAD
PUBLIC ISSUE AND OFFER FOR SALE OF 150,000,000 ORDINARY SHARES OF RM1.00 EACH IN CONJUNCTION WITH THE LISTING ON THE MAIN BOARD OF BURSA MALAYSIA SECURITIES BERHAD.
MIDF Consultancy and Corporate Services Sendirian Berhad (MIDFCCS) wishes to announce that the Public Issue and Offer for Sale shares for Perwaja Holdings Berhad (PHB) made available for public subscription has been oversubscribed.
The Public Issue and Offer for Sale of 150,000,000 Ordinary Shares of RM1.00 each in PHB comprises the following:-
(I) Restricted offering of 101,476,000 ordinary shares of RM1.00 each by way of a renounceable restricted offer to the entitled shareholders of Kinsteel Bhd in direct proportion to their shareholdings therein as at the entitlement date (as defined herein) at an issue/offer price of RM2.23 per ordinary share of RM1.00 each;
(II) Offering of 26,124,000 ordinary shares of RM1.00 each to identified investors at an issue price of RM2.90 per ordinary share of RM1.00 each;
(III) Offering of 11,200,000 ordinary shares of RM1.00 each to eligible directors and employees of Kinsteel Bhd and its subsidiary companies and Perwaja Holdings Berhad and its subsidiary company (“Group”) and persons who have contributed to PHB Group’s success at an issue price of RM2.90 per ordinary share of RM1.00each; and
(IV) Offering of 11,200,000 ordinary shares of RM1.00 each to the Malaysian public at an issue price of RM2.90 per ordinary share of RM1.00 each.
For the 11,200,000 shares made available for public subscription, a total of2,823 applications for 32,390,000 Shares with a value of RM93,931,000.00 were received from the Malaysian public. This represents an overall oversubscription rate 1.89 times. For the Bumiputra portion, a total of 616 applications for 5,053,600 shares were received which represents an over-subscription rate of 0.50 times.
The restricted offering of 101,476,000 shares made available to the entitled shareholders of Kinsteel Bhd have been fully subscribed.
The 26,124,000 Public Issue / Offer for Sale shares made available to identified investors have been fully placed out.
Notices of Allotment will be dispatched by post to all successful applicants on or before August 19, 2008.
The Adviser, Managing Underwriter, Underwriter, Placement Agent and Facility Agent is RHB Investment Bank Berhad.
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