MITI allocation stands a better chance of allocation. Public allocation only 2%. Don't apply more than 2m shares or it'll get thrown out. MITI application closes on 27th Sept, public application usually opens 2 weeks after MITI closes.

Pros:
1. Defensive stock as utilities are generally stable.
2. Cash rich company as seen in management's guideline to declare 100% of PAT as dividend for 1st year, and 70% for subsequent years.
3. One of the better IPOs for this year - those who missed MSM and Armada will come in strong for this.

Cons:
1. Jittery market.
2. RM2.20 is way overpriced, 26x PE due to falling margins.
3. All offer shares, which means the current shareholders wants to cash out, and prolly will take as much profit as they can get.
4. Prepare for trading buy, as many would let go on first trading day.

Conclusion: I'd still go for it.
PM me if interested, I can arrange for application and financing.