Westport IPO Ballot Result

Bumi category

Public category

Based on the ballot results, it's seem like a slim chance to get for public category.
The final retail and institutional price is remain the same, i.e. RM 2.50.

WESTPORTS IPO

Company Name: Westports Holding Berhad
Main Business: Cargo servies
Board: Main market
Stock Name: WPRTS
IPO Price: RM 2.50
PAR: RM 0.10
Market Capital: 3.41 bil shares

Timetable for IPO

Date	Description
19-09-2013	Open application
27-09-2013	Close application
01-10-2013	Price determination
02-10-2013	Ballot result
16-10-2013	Allotment shares
18-10-2013	Listing

Total shares offer: 813,190,000 units
1. Total institutional offering shares: 710,890,000 units. (20.8% of total share capital)
    a. 392,150,000 shares for MITI Bumiputera. (11.5% of total share capital)
    b. 318,740,000 shares for malaysian & foreign institutional and selected investors. (9.3% of total share capital)
2. Total retail offering shares: 102,300,000 units. (3% of total share capital)
    a. 34,1000,000 shares for eligible directors and employees of the company, and those have contributed to the company. (1% of total share capital)
    b. 34,100,000 shares for Malaysian public (Bumi). (1% of total share capital)
    b. 34,100,000 shares for Malaysian public (Non-Bumi). (1% of total share capital)

Financial summary:

FYE	Dec 2010	Dec 2011	Dec 2012	(6 Mths) Jun 2012	(6 Mths) Jun 2013
Revenue (RM mil)	998	1,387	1,492	629	750
Gross Profit (RM mil)	563	604	668	328	347
PAT (RM mil)	284	316	360	161	198
Net DPS* (RM)	1.10	2.60	1.70	0.90	1.50
Net EPS* (RM)	2.43	2.70	3.08	1.38	1.69
Net EPS** (Cents)	8.33	9.27	10.56	9.44	11.61

* based on 117 mil shares of RM 1.00.
** based on 3.41 bil shares of RM 0.10.

Targeted dividend policy: 75%
Estimated DY: 3.48%

Westports looking to raise US$500m from IPO

KUALA LUMPUR: Westports Malaysia Sdn Bhd, operator of the country's busiest port, is looking to raise as much as US$500 million (RM1.5 billion) in an initial public offering (IPO) in the second quarter of 2013, two sources with direct knowledge of the plan said.

The funds raised from the IPO will help Westports expand Port Klang, which has reported double-digit growth in container handling over the last five years.

Westports, which counts Hutchison Port Holdings and Khazanah Nasional Bhd as shareholders, is launching an IPO at a time when privatisation schemes and economic growth have cemented the country's position as Asia's top destination for initial share sales.

"Although the roles of bankers are not confirmed yet, Malayan Banking Bhd will likely lead the deal," said one of the sources yesterday, declining to be identified as the matter was still private.

Credit Suisse Group AG and Goldman Sachs Group Inc will also help arrange the sale, said the second source.

Westports officials were not immediately available to comment.

The IPO would follow the planned US$1 billion (RM3.03 billion) offering for independent power producer Malakoff Corp Bhd, 51 per cent-owned by MMC Corp Bhd, in the first quarter of next year.

The founders of Malaysia's AirAsia Bhd, Tan Sri Tony Fernandes and Datuk Kamarudin Meranun, are also set to kick off an IPO spree in 2013 with three listings worth more than US$500 million (RM1.5 billion).

Malaysia accounted for US$7.9 billion (RM24 billion) of the US$30.03 billion (RM91 billion) worth of new listings in the Asia-Pacific region this year, according to Thomson Reuters data.

By comparison, IPOs in Hong Kong have raised US$1.81 billion (RM5.5 billion) and those in Singapore US$3.44 billion (RM10.4 billion).

Headed by Tan Sri G. Gnanalingam, Malaysia's 24th-richest man according to Forbes, Westports helped move Port Klang a notch higher to the 13th spot in the world port traffic league last year, according to the Westports website.

The port has been recording 20 per cent growth in TEU (twenty-foot equivalent container units) over the last five years. Reuters

Read more: Westports looking to raise US$500m from IPOhttp://www.btimes.com.my/Current_News/BTIMES/articles/20121017234358/Article/index_html#ixzz29ewwU0oC