Monday, 11 November 2013

TITIJAYA LAND BERHAD IPO


Company Name: Titijaya Land Berhad
Main Business: Properties development
Board: Main market
Stock Name: TITIJYA
IPO Price: RM 1.50
PAR: RM 0.50
Market Capital: 340 mil shares

Timetable for IPO
Date Description
11-11-2013 Open application
18-11-2013 Close application
20-11-2013 Ballot result
26-11-2013 Allotment shares
27-11-2013 Listing

Total shares offer: 131,205,000 units (38.59% of total share capital)
1. Total public issue shares: 81,705,000 units. (24.03% of total share capital)
    a. 17,000,000 offer shares for Malaysian public. (5% of total share capital)
    b. 6,000,000 issue shares for eligible directors, employees and persons who have contributed to the success of the group. (1.76% of total share capital)
    c. 34,000,000 issue shares for bumi investors approved by MITI. (10% of total share capital)
    d. 24,705,000 issue shares for private placement to selected investors. (7.27% of total share capital)
2. Total offer for sale shares: 49,500,000 units. (14.56% of total share capital)
    a. 49,500,000 shares for private placement to selected investors. (14.56% of total share capital)

Financial summary:
FYE Jun 2009Jun 2010Jun 2011Jun 2012Jun 2013
Revenue (RM '000)151,112 101,831 137,182 118,252193,766
Gross Profit (RM '000)24,822 29,386 43,682 46,60293,375
PAT (RM '000) 13,41327,196 22,524 34,14052,196
Net EPS* (RM) 0.050.11 0.09 0.130.20
Diluted EPS** (RM) 0.050.09 0.08 0.120.18
* based on 258 mil shares of RM 0.50.
**based on 290 mil shares of RM 0.50.

Utilisation of proceeds:
Purpose Total raised (RM '000)Total raised (%)
Working capital 49,458 40.35
Repayment of bank borrowings 15,000 12.24
Repayment of advances from the previous shareholders of Europe Property 24,300 19.83
Purchase of land bank 30,000 24.48
Listing expenses 3,800 3.10
Total gross proceeds 122,558 100.00

Targeted dividend policy: 30%
Estimated DY: 3.6%

Detail info: Titijaya Land Berhad IPO Prospectus

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