THE INITIAL PUBLIC OFFERING (“IPO” OR “OFFERING”) OF UP TO 407.00 MILLION ORDINARY SHARES OF RM 0.05 EACH IN UOA DEVELOPMENT BHD (“UOA DEVELOPMENT”) (“SHARES”), IN CONJUNCTION WITH THE LISTING OF AND QUOTATION FOR 1,195.86 MILLION SHARES ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD, COMPRISING:

(I) OFFER FOR SALE OF UP TO 120.00 MILLION EXISTING SHARES (“OFFER SHARES”) COMPRISING:

• INSTITUTIONAL OFFERING OF UP TO 50.00 MILLION OFFER SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS AT THE INSTITUTIONAL PRICE TO BE DETERMINED BY WAY OF BOOKBUILDING (“INSTITUTIONAL PRICE”) PAYABLE IN FULL UPON ALLOCATION; AND

• RETAIL OFFERING OF 70.00 MILLION OFFER SHARES TO THE MALAYSIAN PUBLIC, ELIGIBLE DIRECTORS OF UOA DEVELOPMENT, ELIGIBLE EMPLOYEES OF UOA DEVELOPMENT AND ITS SUBSIDIARIES AND PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF UOA DEVELOPMENT AND ITS SUBSIDIARIES AT THE RETAIL PRICE OF RM2.90 PER SHARE (“RETAIL PRICE”), PAYABLE IN FULL UPON APPLICATION AND SUBJECT TO REFUND OF THE DIFFERENCE, IN THE EVENT THAT THE FINAL RETAIL PRICE IS LESS THAN THE RETAIL PRICE; AND

(II) PUBLIC ISSUE OF 287.00 MILLION NEW SHARES TO MALAYSIAN AND FOREIGN INSTITUTIONAL AND SELECTED INVESTORS INCLUDING BUMIPUTERA INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY AT THE INSTITUTIONAL PRICE PAYABLE IN FULL UPON ALLOCATION,

SUBJECT TO THE CLAWBACK AND REALLOCATION PROVISIONS AND OVER-ALLOTMENT OPTION (AS DEFINED HEREIN). THE FINAL RETAIL PRICE WILL BE EQUAL TO THE LOWER OF (I) THE RETAIL PRICE; AND (II) 97.00% OF THE INSTITUTIONAL PRICE, SUBJECT TO ROUNDING TO THE NEAREST SEN.

Prospectus ; http://www.klse.com.my/website/bm/listed_c...ectus/index.jsp

This post has been edited by andrewckj: May 18 2011, 02:15 PM

Someone who can change the topic thread please do so, It is not rumour, it is the fact d~!

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Added on May 19, 2011, 12:11 am100 cents par value = RM 59 each , at 50 cents it is already at price at RM 29 each

This post has been edited by andrewckj: May 19 2011, 12:11 AM

Bro, out already. Go check out their prospectus at http://www.klse.com.my/website/bm/listed_c...pos/prospectus/

Don't miss the boat if you are interested. Wall of text, I'm reading their prospectus..lols..

Crap, can't apply through Internet via maybank. WTF~!!!!

Yes, I read the prospectus already. Section 20 said that Maybank and most major ATMS can apply this IPO. For internet application however, is limited to CIMB only.

5 lots = 500 units I assumed?

500* 2.9 = Rm 1,450.

Error? 0.o?

On board too, I applied 4k units only. Save some bullets for others.

You are absolutely right! Par Value is more to a reference as most analysts would not comment about it. What most important is that the PE ratio and the EPS of UOA that could have the power to swing the price. Just take a look at Genting Singapore, it has no par value, meaning ZERO par value, but that doesn't mean that the GENS stock is of no value. I read it somewhere before last time that Malaysia will soon move to an exchange without par value because it is irrelevant. We are still practicing it because UK are still practicing them, considering our closed knitted relationship with UK.

This post has been edited by andrewckj: May 25 2011, 12:47 AM

UOA Development Bhd IPO Target Price Fair Value RM3.45
UOA Development Bhd IPO closing date (Retail Offering 25 May 2011) and (Institutional Offering 26 May 2011).
UOA IPO price RM 2.90.
The UOA Development Retail Price will be fixed at RM2.90 or 97.00% of the Institutional Price, whichever lower, subject to a refund of the difference between the Final Retail Price and RM2.90 per Share.
The Institutional Price is by way of book-building. What is the target or expected institutional strike price or Retail Price? Very hard to say, example Maxis and JCY strike price was at the lower end but Pchem was at higher end.
Issuing house MIH-515 and listing date of UOA Development will be tentatively on 8 June 2011 in Bursa Main Market.
Whether can subscribe or apply UOA Development IPO, let us do a very simple PEGGY Method Evaluation.

PE: PE Ratio
G: Growth
G: Gearing
Y: Yield

Using UOA Development share price or Institutional IPO price of RM3.00.

UOA Development PE ratio is 26.2x (2010 Dec). Growing at 66.1% (2011), 41.3% (2012) and 29.6% (2013). PE ratio will then be 15.8x (2011), 11.2x (2012) and 8.6x (2013).

UOA Development net gearing is fairly high at 55.6%. Post IPO will drop to 4.8% (2011). The UOA Development dividend yield is 2.5% in 2011, and this is based on 40% dividend payout ratio. UOA Development dividend policy is dividend payout of 30% to 50%.

The above figure are by RHB and UOADEV target price fair value is RM3.45, that is at its RNAV per share.

Based on the above figures, UOADEV PE ratio is not cheap. Although it has high growth, at UOADEV share price of RM3.00, this has been factored in. Have to wait two more years then only the PE ratio drop to below 10x. UOADEV dividend yield is just average, although it will grow as the profit grow.

This has confirmed by RHB, where they give a UOADEV IPO stock target price which is only 15% from RM3.00.

I think there are few issues that you need to consider:

1) RM3.00 or RM2.97 is NOT fixed yet.
Although the above PEGGY Figures are not very cheap, but the Retail IPO price is not fixed yet. You may get a lower price and get refund of the difference if they fix the strike price lower. A lower price means UOADEV will have lower PE ratio and higher dividend yield and higher potential share price increase upon listing.

2) IPO year.
So far, Year 2011 is very good year for IPO. The recent few IPOs listing prices were crazily high. This may help UOADEV to trade higher.

3) Top 5 listed property developers stock
Post IPO, UOA Development market capitalization will be in the top 3 or top 5, behind UEM Land, SP Setia and about the same as Suncity-Sunway and IJMLand. Large UOADEV market capitalization will attract more institutional investor and can justify higher PE Ratio or higher price.

4) How RHB get the growth figures?
The growth figures are quite impressive, but how they get it? According to RHB, 2011 profit growth mainly due to the tail-end construction of The Horizon Phase 2, Kepong business Park and Villa Pines. 2012 to 2013 will be (I will post when I got time).

5) Property market Crash?
Many people said property market may crash soon. But I have been hearing that for so many months. I have no idea, up to individuals to judge.

Last day to apply for this IPO, so after all simple above mentioned criteria are you still up for it? Do you plan to hold it for long or go for a quickie? It is all down to your risk appetite.

I agree with you on this. Base on the PE alone, UOA on it's IPO price is not cheap. It is all purely base on forecasted growth for the years to come. True enough, if the property bubble in Klang Valley were to go burst, it will definitely affect the growth of UOA and eventually the stock price. UOA current flagship project is Bangsar South City. Well, I applied some small lots and planning for a quickie (sell on first day if get some and take profit). I'm more a prudent in the risk appetite because I find property stocks are usually at higher risk. Dividend yield not so attractive as well compared to other sector. I will only buy it for long term if the PE is really low, like Tambun. That's my view.

But UOA and Tambun is different that, UOA has a better and more reputable name, hence can attract big players and foreign manager to invest in the stock. Support will be there, but the question is can the investors tolerate the risk of the property value that might burst.

Huat bro! Hopefully manage to get some and the listing date see it trading at premium!

Well said!

Yes! got refund, if manage to get the UOA shares. My bracket is in a competitive bracket. Good luck guys! At Rm 2.52, there is quite some room for it to go higher premium. Cheers~

Maybank, still pending

Argh, almost 6pm and my amount in Maybank still pending!

My maybank states I'm unsuccessful for it. Good luck guys!

Wow! Congrats rosdi!

Congrats man! I feel that I'm so unlucky even though there are so many shares and my applicant brackets at 48%~ Anyway, hopefully you guys make some good bucks of it from the first day trading! My target price for it is RM 2.95

I'm not a bumi! I actually applied that using one of my relatives CDS account. Yet still can't get!

I applied via Maybank ATM.

6pm= Found out result not successful.

10pm= Got my money returned to my account already.