Bumi Armada Berhad, Malaysia’s largest owner and operator of offshore support vessels, will be closing its books for its 2.77 billion ringgit ($920 million) at 5pm Malaysia time on July 7 at 5.00 pm (0900 GMT), a day earlier than scheduled, due to strong demand from investors.
According to IFR, a unit of Thomson Reuters, the foreign and domestic institutional tranche of 261 million shares was more than 10 times covered.
Bumi Armada Berhad, an oil and gas services provider, will be listed on the Main Market of Bursa Malaysia on 21th July 2011(Thursday) at RM3.15(Issue Price).
It aims to raise RM2.029 billion from this initial public offering (IPO), has an order book of RM5.8 billion as at June 1, 2011. All the proceeds will be use to repay bank borrowing, capital expenditure,working capital and listing expenses.
The main income stream for Bumi Armada Berhad is from the deployment of floating production storage and offloading (FPSO), offshore support vessels (OSV) and transport and installation services (T&I).
MSM Malaysia Holdings Bhd, the sugar refining unit of Felda Global Ventures Holdings Sdn Bhd, made an impressive debut on the Kuala Lumpur stock exchange(Bursa Malaysia) today.
Trading of MSM Malaysia Holdings Bhd’s shares on Bursa Securities on a ready basis commenced at 9am on June 28, 2011, under the stock name ‘MSM’ and stock code ‘5202’.
The price at debut jumped by over 30 percent in the morning session of trading on Bursa Malaysia on June 28.
