Bumi Armada Berhad IPO Listing
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).
Bumi Armada is Malaysia’s largest owner and operator of OSVs (and third largest in South East Asia), and is currently also the eighth largest FPSO player in the world. The company is an established and trusted service partner in the oil and gas industry with over decades of experience.
Bumi Armada Berhad owns 4 FPSOs and was recently awarded its fifth FPSO contract by ONGC for the D-1 field in India. The company plans to add one FPSO a year to its stable and hopes to become the fourth largest FPSO operator in the world by 2013 from its current eighth position.
This IPO should be well received as cornerstone investors such as Great Eastern Life Assurance (Malaysia) Bhd, Permodalan Nasional Bhd, HwangDBS Investment Management Bhd, Prudential Fund Management Bhd, Hong Leong Assurance Bhd, Guoline Capital Ltd and Asia Foundation Investment Co Ltd, have pledged to buy 300 million shares in total, representing 10.2% of the enlarged issued and paid-up share capital of the company.
.
FPSO Armada Perdana
.
.
CIMB Investment Bank Berhad (CIMB) is the Joint Principal Adviser, Joint Global Co-ordinator, Joint Bookrunner and Joint Managing Underwriter. Malaysian Issuing House Sdn Bhd is the issuing house of the said IPO.
The closing date for this IPO is on 7 July 2011 at 5.00pm, or such later date as the Directors and/or promoters of Bumi Armada together with the Majority Joint Managing Underwriters (as defined in the Prospectus dated 30 June 2011) in their absolute discretion may decide.
Offering Statistics
Issuer= Bumi Armada Berhad
Issue Price (RM)= 3.15
Par Value (RM)= 0.20
Board= Main Market
Sector= Trading/Services
Public Issue
Malaysian Public
– Bumiputera =29,284,700
– Non Bumiputera =29,284,700
Directors of Bumi Armada = 9,700,000
Eligible employees of Bumi Armada and its subsidiaries (Bumi Armada Group) = 10,092,000
Persons who have contributed to the success of Bumi Armada Group=1,500,000
MITI Approved Bumiputera investors= 102,496,000
Other Malaysian and foreign institutional and selected investors=461,904,200
Offer for Sale :
MITI Approved Bumiputera investors= 234,277,000
Adviser(s) :
CIMB Investment Bank Berhad
Maybank Investment Bank Berhad
RHB Investment Bank Berhad
Listing Schedule
Prospectus Date= 30/06/2011
Opening of Applications= 30/06/2011
Closing of Applications= 07/07/2011
Tentative Balloting Date= 11/07/2011
Tentative Allotment Date= 19/07/2011
Tentative Listing Date= 21/07/2011
How to apply Bumi Armada Berhad IPO?
1) Using manual IPO form. The form can be downloaded from CIMB e-IPO service web site. You need to buy bank draft and send via snail mail or by hand to Malaysian Issuing House Sdn Bhd
2) ATM machines. CIMB charges RM2.50 vs Maybank RM1.00
3) Internet share application via online banking
** Please check the fee charged before using any of above services and shop wisely!
CIMB Investment Bank Berhad’ e-IPO Services(Internet share application) charge a processing fee of RM2.00 per application vs applying for IPOs (Initial Public Offerings) online via Maybank2u.com which charge RM1 per IPO vs eIPO Application via online or ATM(RHB Bank) is RM2.50 per application