KAREX IPO ballot result

Bumi category

Public category

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 2010	Jun 2011	Jun 2012	Jun 2013
Revenue (RM '000)	157,444	181,753	188,751	231,389
Gross Profit (RM '000)	40,129	24,884	32,865	59,917
PAT (RM '000)	16,529	6,988	12,016	29,028
Net EPS* (RM)	0.06	0.03	0.05	0.11

* 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