KUALA LUMPUR: China Ouhua Winery Holdings Ltd plans to raise RM79.53 million from its listing on the Main Board of Bursa Malaysia next month.
According to its prospectus released on Friday, Oct 15, the initial of public offering (IPO) will involve 132.55 million new ordinary shares at an offer price of 60 sen each. These new shares would account for 19.8% of the company's enlarged issued and paid-up share capital.
Of the 132.55 million new shares, it said eight million shares would be offered to the public and 124.55 million shares to be placed out to identified investors.
China Ouhua's market capitalisation upon listing will be over RM400 million. The Chinese winemaker company will be the first wine-producing counter on Bursa Malaysia while it is the fifth Chinese company to be listed here.
China Ouhua registered revenue of RMB376 million while its profit after tax was RMB133 million for the financial year ended Dec 31, 2009.
Of the RM79.53 million to be raised from the IPO, RM35.79 million would be used to expand its market presence and distribution network, RM7.95 million to enhance the quality of and control over its materials, RM11.93 million to expand its production capacity and range of winde.
The remaining RM3.97 million would be used to beef up its research and development, RM9.54 million as working capital and RM10.4 billion for estimated listing expenses.
The application for the IPO shares is Oct 15 while the closing of applications is Oct 22 and balloting Oct 26. Allotment of the IPO shares would be on Nov 1 and tentative listing date is Nov 3.
The company said while it did not have a fixed dividend policy, for FYE Dec 31, 2010, subject to certain factors, 'our board intends to recommend and distribute 35% of our net profit attributable to our shareholders as dividends'.
It said investors should note the intention to recommend the dividends should be treated as a legal obligation and it should also not be treated as an indication of the company's future dividend policy.
According to its prospectus released on Friday, Oct 15, the initial of public offering (IPO) will involve 132.55 million new ordinary shares at an offer price of 60 sen each. These new shares would account for 19.8% of the company's enlarged issued and paid-up share capital.
Of the 132.55 million new shares, it said eight million shares would be offered to the public and 124.55 million shares to be placed out to identified investors.
China Ouhua's market capitalisation upon listing will be over RM400 million. The Chinese winemaker company will be the first wine-producing counter on Bursa Malaysia while it is the fifth Chinese company to be listed here.
China Ouhua registered revenue of RMB376 million while its profit after tax was RMB133 million for the financial year ended Dec 31, 2009.
Of the RM79.53 million to be raised from the IPO, RM35.79 million would be used to expand its market presence and distribution network, RM7.95 million to enhance the quality of and control over its materials, RM11.93 million to expand its production capacity and range of winde.
The remaining RM3.97 million would be used to beef up its research and development, RM9.54 million as working capital and RM10.4 billion for estimated listing expenses.
The application for the IPO shares is Oct 15 while the closing of applications is Oct 22 and balloting Oct 26. Allotment of the IPO shares would be on Nov 1 and tentative listing date is Nov 3.
The company said while it did not have a fixed dividend policy, for FYE Dec 31, 2010, subject to certain factors, 'our board intends to recommend and distribute 35% of our net profit attributable to our shareholders as dividends'.
It said investors should note the intention to recommend the dividends should be treated as a legal obligation and it should also not be treated as an indication of the company's future dividend policy.
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