KUALA LUMPUR: Malaysia Marine and Heavy Engineering Bhd's'' (MMHE) total market capitalisation when listed at RM3.61 per retail share will be RM5.78 billion.
According to its prospectus issued on Wednesday, Oct 6, it is offering 262 million new shares under its listing exercise.
Of the 262 million new shares, 184 million shares would be issued to approved Bumiputera investors, 24 million shares to MISC shareholders and 22 million shares to eligible directors and employees. Another 16 million shares would be offered to the public (Bumiputera) and 16 million (non-Bumiputera).
As part of the listing exercise, MMHE said that its parent MISC BHD [] was allocating between 128 million and 158.40 million shares of MMHE to a strategic investor Technip at a price equal to a 2% premium over the institutional price.
MISC will also offer for sale 146 million shares under the institutional offering to Malaysian institutional and selected investors at the institutional price.
The final retail price will equal the lower of the retail price of RM3.61 per share and 95% of the institutional price.
The gross proceeds from the offer for sale is expected to be RM527.1 million while gross proceeds from the allocation to Technip would be between RM462.1 million and RM571.8 million.
The company said it will not receive any proceeds from the offer for sale and allocation to Technip.
Of the RM945,8 million proceeds, it said RM798.8 million would be used for the yard optimisation, RM110 million for capital expenditure in Turkmenistan and the balance of RM37 million for listing expenses.
According to its prospectus issued on Wednesday, Oct 6, it is offering 262 million new shares under its listing exercise.
Of the 262 million new shares, 184 million shares would be issued to approved Bumiputera investors, 24 million shares to MISC shareholders and 22 million shares to eligible directors and employees. Another 16 million shares would be offered to the public (Bumiputera) and 16 million (non-Bumiputera).
As part of the listing exercise, MMHE said that its parent MISC BHD [] was allocating between 128 million and 158.40 million shares of MMHE to a strategic investor Technip at a price equal to a 2% premium over the institutional price.
MISC will also offer for sale 146 million shares under the institutional offering to Malaysian institutional and selected investors at the institutional price.
The final retail price will equal the lower of the retail price of RM3.61 per share and 95% of the institutional price.
The gross proceeds from the offer for sale is expected to be RM527.1 million while gross proceeds from the allocation to Technip would be between RM462.1 million and RM571.8 million.
The company said it will not receive any proceeds from the offer for sale and allocation to Technip.
Of the RM945,8 million proceeds, it said RM798.8 million would be used for the yard optimisation, RM110 million for capital expenditure in Turkmenistan and the balance of RM37 million for listing expenses.
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