There will be another new kid on Bursa Malaysia, Ace Market before year end and it will be Kanger International Berhad. Kanger International Berhad IPO will be on board on 23rd December 2013.
Let me summarize the important points regarding Kanger International IPO so that it will be easier for you to digest.
- Listed on 23rd December 2013 on Ace Market
- IPO price will be RM0.25 per share at RM0.10 par value
- There will be 80 million ordinary shares
- Kanger International IPO will be the 10th China based company to be listed in Malaysia
- Kanger International specialized in manufacturing and trading of bamboo flooring
- Kanger International intends to pay 20% of its yearly net profit as dividend
- Kenanga investment bank is the sole advisor, sponsor, underwriter and placement agent of the IPO
- Subscription period is opened until 13th December 2013 at 5pm
- Balloting date is on 16th December 2013
- Allotment Date is on 22nd December 2013
- Kanger International Stock Name in Bursa Malaysia will be “KANGER“
For me, I will skip applying this IPO as it’s listed at the ACE Market but ACE market stock tend to fly up in the early days. More of a “goreng” stock so I will give this a miss! Besides that, it’s a company based from China which makes me more skeptical about Kanger International.
All the best to those that have applied and may the force be with you!