Listing Sought: Main Market
Issue Price: RM0.82
Offer Period Open: 17 Jun 2019
Offer Period Close: 28 Jun 2019
Tentative listing date: 10 Jul 2019
Number of shares:
Public Issue: 70,000,000
Private Placement: 80,015,000
Offer for Sale: 33,015,000
Stock Code: UWC
INITIAL PUBLIC OFFERING IN CONJUNCTION WITH THE LISTING OF UWC BERHAD ("UWC") ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD COMPRISING:
(I) PUBLIC ISSUE OF 70,000,000 NEW ORDINARY SHARES IN UWC ("ISSUE SHARES") IN THE FOLLOWING MANNER:
20,000,000 ISSUE SHARES AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;
3,000,000 ISSUE SHARES AVAILABLE FOR APPLICATION BY THE ELIGIBLE DIRECTORS AND EMPLOYEES WHO HAVE CONTRIBUTED TO THE SUCCESS OF UWC AND ITS SUBSIDIARIES;
47,000,000 ISSUE SHARES BY WAY OF PRIVATE PLACEMENT TO IDENTIFIED BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY; AND
(II) OFFER FOR SALE OF 33,015,000 EXISTING ORDINARY SHARES IN UWC ("OFFER SHARES") BY WAY OF PRIVATE PLACEMENT TO SELECTED INVESTORS AT AN ISSUE/OFFER PRICE OF RM0.82 PER ISSUE SHARE/OFFER SHARE, PAYABLE IN FULL UPON APPLICATION
UWC Berhad, thorough it subsidiaries, provides laser cutting and puching, bending, welding, CNC milling and turning, and painting services. UWC Holdings serves customers in Malaysia.
Address & Contact:
PMT 744-745, Jalan Cassia Selatan 5/1,
Taman Perindustrian Batu Kawan, 14110 Bandar Cassia,
Pulau Pinang, Malaysia.
Tel: 604 – 555 6937
Fax: 604 – 589 9503
News: Mestron eyes RM25.28m from IPO for expansion
Integrated engineering supporting services provider, UWC Bhd is offering 70 million new shares at an offer price of 82 sen each enroute to its listing on the Main Market of Bursa Malaysia Securities.
As part of the listing exercise, the vendors are offering for sale 33.015 million existing shares to selected investors, the company said at the launch of its prospectus on Monday.
UWC said of the 70 million shares would be offered to the public, three million shares to eligible directors and employees while 47 million shares would be placed out to Bumiputera investors approved by the Ministry of International Trade and Industry.
Upon its listing UWC will have a market capitalisation of RM300.77mil based on the issue/offer price of 82 sen and its enlarged share capital of 366.80mil.
The company plans to use RM57.4mil from the issuance of the news shares for purchase of new machinery and equipment (RM32.10mil), RM18mil to repay bank borrowings, RM2.9mil as working capital and the remaining RM4.4mil for listing expenses.
UWC'c core activities are precision sheet metal fabrication and value-added assembly services as well as the fabrication of precision machined parts.
Speaking at the launch, UWC executive director and group CEO Datuk Ng Chai Eng said: “We currently have 166 computer numerical control (CNC) machines. The additional 29 CNC machines which we plan to purchase over the next three years from the date of our listing will support our production capacity expansion”.
For this listing exercise, Hong Leong Investment Bank Bhd is the principal adviser, underwriter and placement agent, while Wyncorp Advisory Sdn Bhd is the corporate finance adviser.