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 2010 | FYE 2011 | FYE 2012 | Jun 2012 | Jun 2013 |
|---|---|---|---|---|---|
| Revenue (RM '000) | 24,836 | 23,411 | 38,556 | 20,183 | 21,378 |
| Gross Profit (RM '000) | 2,366 | 4,924 | 10,973 | 3,938 | 4,294 |
| PAT (RM '000) | 969 | 2,281 | 6,393 | 2,124 | 2,517 |
| Net EPS* (sen) | 0.28 | 0.65 | 1.82 | 0.61 | 1.44 |
| Diluted EPS** (sen) | 0.22 | 0.53 | 1.48 | 0.49 | 1.17 |
**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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