Saturday, 7 December 2013

KANGER INTERNATIONAL BERHAD IPO


Company Name: Kanger International Berhad
Main Business: An integrated manufacturer of bamboo products
Board: Ace market
Stock Name: KANGER
IPO Price: RM 0.25
PAR: RM 0.10
Market Capital: 430 mil shares

Timetable for IPO
Date Description
06-12-2013 Open application
13-12-2013 Close application
16-12-2013 Ballot result
20-12-2013 Allotment shares
23-12-2013 Listing

Total shares offer: 80,000,000 units (18.6% of total share capital)
1. Total public issue shares: 11,000,000 units. (2.55% of total share capital)
    a. 5,500,000 offer shares for Malaysian public. (1.275% of total share capital)
    b. 5,500,000 issue shares for bumi investors. (1.275% of total share capital)
2. Total private placement shares: 69,000,000 units. (16.05% of total share capital)

Financial summary:
FYE FYE 2010FYE 2011FYE 2012Jun 2012Jun 2013
Revenue (RM '000)24,836 23,411 38,556 20,18321,378
Gross Profit (RM '000)2,366 4,924 10,973 3,9384,294
PAT (RM '000) 9692,281 6,393 2,1242,517
Net EPS* (sen) 0.280.65 1.82 0.611.44
Diluted EPS** (sen) 0.220.53 1.48 0.491.17
* based on 350 mil shares of RM 0.10.
**based on 430 mil shares of RM 0.10.

Utilisation of proceeds:
Purpose Total raised (RM '000)Total raised (%)
Capex 1,000 5.0
R&D 2,000 10.0
Repayment of bank borrowings 5,500 27.5
Working capital 8,200 41.0
Listing expenses 3,300 16.5
Total gross proceeds 20,000 100.0

Targeted dividend policy: 20%
Estimated DY: 1.88%

Detail info: Kanger International Berhad IPO Prospectus

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