Friday, 20 September 2013

WESTPORTS IPO


Company Name: Westports Holding Berhad
Main Business: Cargo servies
Board: Main market
Stock Name: WPRTS
IPO Price: RM 2.50
PAR: RM 0.10
Market Capital: 3.41 bil shares

Timetable for IPO
Date Description
19-09-2013 Open application
27-09-2013 Close application
01-10-2013 Price determination
02-10-2013 Ballot result
16-10-2013 Allotment shares
18-10-2013 Listing

Total shares offer: 813,190,000 units
1. Total institutional offering shares: 710,890,000 units. (20.8% of total share capital)
    a. 392,150,000 shares for MITI Bumiputera. (11.5% of total share capital)
    b. 318,740,000 shares for malaysian & foreign institutional and selected investors. (9.3% of total share capital)
2. Total retail offering shares: 102,300,000 units. (3% of total share capital)
    a. 34,1000,000 shares for eligible directors and employees of the company, and those have contributed to the company. (1% of total share capital)
    b. 34,100,000 shares for Malaysian public (Bumi). (1% of total share capital)
    b. 34,100,000 shares for Malaysian public (Non-Bumi). (1% of total share capital)

Financial summary:
FYE Dec 2010Dec 2011Dec 2012(6 Mths)
Jun 2012
(6 Mths)
Jun 2013
Revenue (RM mil) 998 1,387 1,492629750
Gross Profit (RM mil) 563 604 668328347
PAT (RM mil) 284 316 360161198
Net DPS* (RM) 1.10 2.60 1.700.901.50
Net EPS* (RM) 2.43 2.70 3.081.381.69
Net EPS** (Cents) 8.33 9.27 10.569.4411.61
* based on 117 mil shares of RM 1.00.
** based on 3.41 bil shares of RM 0.10.

Targeted dividend policy: 75%
Estimated DY: 3.48%

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