Saturday, 12 October 2013

Karex Berhad IPO


Company Name: Karex Berhad
Main Business: Rubber products manufacturer
Board: Main market
Stock Name: KAREX
IPO Price: RM 1.85
PAR: RM 0.25
Market Capital: 270 mil shares

Timetable for IPO
Date Description
11-10-2013 Open application
23-10-2013 Close application
25-10-2013 Ballot result
04-11-2013 Allotment shares
06-11-2013 Listing

Total shares offer: 67,500,000 units (25% of total share capital)
1. Total institutional offering shares: 47,250,000 units. (17.5% of total share capital)
    a. 27,000,000 offer shares for institutional and selected investors in Malaysia, Singapore and Hong Kong. (10% of total share capital)
    b. 20,250,000 issue shares for institutional and selected investors in Malaysia, Singapore and Hong Kong. (7.5% of total share capital)
2. Total retail offering shares: 20,250,000 units. (7.5% of total share capital)
    a. 6,750,000 shares for eligible directors, employees, business associates and those have contributed to the company. (2.5% of total share capital)
    b. 6,750,000 shares for Malaysian public (Bumi). (2.5% of total share capital)
    c. 6,750,000 shares for Malaysian public (Non-Bumi). (2.5% of total share capital)

Financial summary:
FYE Jun 2010Jun 2011Jun 2012Jun 2013
Revenue (RM '000) 157,444 181,753 188,751231,389
Gross Profit (RM '000) 40,129 24,884 32,86559,917
PAT (RM '000) 16,529 6,988 12,01629,028
Net EPS* (RM) 0.06 0.03 0.050.11
* based on 270 mil shares of RM 0.25.

Utilisation of proceeds:
Purpose Total raised (RM '000)Total raised (%)
R&D 4,000 5.3
Capex 41,750 55.7
Working capital 13,675 18.3
Repayment of bank borrowings 10,000 13.3
Listing expenses 5,500 7.4
Total gross proceeds 74,925 100.0

Targeted dividend policy: Nil
Estimated DY: Nil

Detail info: Karex IPO Prospectus

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