For UOA Developmt Bhd, based on total issued shares of 1,195,860,000, mkt cap of IPO approx. RM3.5b (assume IPO price at RM3.00)..

The parent company is actually listed in Singapore and Australia.. Based on 982m shares outstanding, current market cap of parent company SGD658m (SGD0.67)..

Given that UOA DB is a wholly owned subsidiary, the parent company seems undervalued at current price.. (my personal opinion only)

---

Added on April 28, 2011, 10:16 amProposed Listing of UOA Development Bhd on the Main Market of Bursa Malaysia Securities Bhd

The company refers to previous announcements in respect of the proposed listing of UOA Development Bhd on the Main Market of Bursa Malaysia Securities Bhd (Kuala Lumpur Stock Exchange).

Agreement in principle has been received from the Securities Commission of Malaysia for the issuance of a prospectus to facilitate this transaction.

It is expected the prospectus will be launched on approximately 18th May and subsequent listing and quotation on the Kuala Lumpur Stock Exchange in the second week of June.

There will be a total of 287 million new shares and 120 million offer for sale shares (from UOA group) in the Initial Public Offering.

After the issue of the IPO shares the company will retain approximately 65% of the newly listed entity.

---

Added on May 11, 2011, 4:57 pmKUALA LUMPUR: UOA Development Bhd has taken a step closer toward listing on the Main Market of Bursa Malaysia after it inked a retail underwriting agreement with its underwriters.

The Underwriters for the company's initial public offering (IPO) are CIMB Investment Bank Berhad, RHB Investment Bank Berhad, OSK Investment Bank Berhad, HwangDBS Investment Bank Berhad and Hong Leong Investment Bank Berhad.

UOA Development chief operating officer David Khor Soo Beng in a statement Wednesday, May 11 said that the implementation of large scale projects like the Mass Rapid Transit would further enhance the value of properties as well as create a sustainable property market in Klang Valley.

CIMB Group corporate and investment banking deputy chief executive Datuk Charon Wardini thanked the property development group for appointing CIMB as its Principal Adviser, Sole Bookrunner, Managing Underwriter, and Joint Underwriter.

“We are also proud to be associated with UOA Development's impressive journey of growth and to be part of this major milestone in its corporate history.

“This IPO marks yet another landmark achievement for the company and we look forward to being a prominent partner to UOA Development in its next phase of growth,” he said.

UOA Development is involved in property development, construction and property investment. Its development projects are in matured and prime locations, centralised within the Klang Valley.

The company recently received approval from the Securities Commission (SC) the proposed listing of its entire enlarged issued and paid-up share capital of up to 1.19 billion ordinary shares 5 sen each on the Main Market of Bursa Malaysia within the first half of 2011.

The IPO consists of an institutional offering of up to of 337 million shares to Malaysian and foreign institutional and selected investors and a retail offering of 70 million shares to the Malaysian public, eligible directors and employees of UOA Development and its subsidiaries and persons who have contributed to the success of UOA Development and its subsidiaries.


This post has been edited by young_investor: May 11 2011, 04:57 PM