Boustead Plantations to issue 580m new shares under IPO

Boustead Plantations Bhd plans to issue 580 million new shares to retail and institutional investors under its proposed listing on the Main Market of Bursa Malaysia.

Boustead Holdings Bhd, which is listing the plantations unit, said on Monday that it would offer for sale up to 76 million existing Boustead Plantations shares.

Upon listing, the enlarged and paid-up capital of Boustead Plantations would be 1.6 billion shares of 50 sen each with the inclusion of the 580 million new shares.

The floatation exercise involves the retail offering of up to 492.429 million IPO shares.

Of these IPO shares, it said 206.83 million issue shares would be reserved for applications by entitled shareholders of Boustead Holdings. This would be on the basis of one Boustead Plantations share for every five Boustead Holdings shares held.

It also said 174.59 million Boustead Plantations shares would be reserved for entitled unitholders of Boustead REIT on the basis of three Boustead Plantation shares for every five Boustead REIT units held.

Under the retail offering, 47 million offer shares would be for eligible directors and employees of Boustead Plantations, Boustead Holdings and persons who contributed to the success of the Boustead Plantations.

For the Malaysian public, it said 64 million Boustead Plantations shares would be offered via balloting.

The institutional offering would see up to 163.57 million IPO shares offered to approved Bumiputera investors as well as other Malaysian institutions and selected investors.

Opening of application 27/05/2014
Closing of application 11/06/2014
Balloting of applications 16/06/2014
Allotment of IPO shares to successful applicants 24/06/2014
Tentative listing date 26/06/2014

This post has been edited by davinz18: May 27 2014, 04:57 PM

hi daviz18,

You know how to apply those existing boustead reits investor?

or only applicable for Direct CDS holding Boustead Reits?

I think got some application form to fill, just like others IPO. Cannot apply thru online.

Not forgetting the allocation is on the basis of 3 Issue Shares for every 5 Units held as 5.00 p.m today (in the Record of Depositors of BREIT).

a total 174,594,000 Issue Shares are reserved existing for BREIT investors.

based on previous experience on umw-og IPO, u are not guarantee to get the shares if oversubscribe

http://announcements.bursamalaysia.com/EDM...ntIPO-Final.pdf

I tink i miss out;

Before applying this IPO better check for the following...

Average age of tree
% immature trees
% old trees
Unplanted reserves
Oil extraction rate
FFB yield per ha

I think boustead plantations are most old and inefficient plantation like FELDA... but then i might be wrong....

u not entitle to the allocation?

if u agreed to the take-over & accept rm2.10/share thing u entitle lar

My CDS is nominee acc....shld follow majority agree. I didnt spoted the entitle part.
Busy at WORK

then i want to scold my dealer...ask him to check for any entilement....MY dealer MIA.

u better check to your remisier. I think CDS nominee acc cannot apply IPO

You right...


Attached thumbnail(s)

So its not a good buy? or we wait and see the prospectus first?

SC have yet to publish draft Prospectus for comments

If im not mistaken, they just bought an estate in Sabah last few month after disposing Indonesia last year.

Correct, they bought two plantation in Lahad Datu, sabah.
What I know plantation in Sabah give more yield/ha than Peninsular Malaysia & Sarawak

Prospectus Exposure – Boustead Plantations Berhad
http://www.sc.com.my/prospectus-exposure-b...tations-berhad/

kinda connected, because the same major shareholder are involved.

tis is plantation division / subsidiary company... in which all related to LTAT & indirectly to Gomen

informative sharing...keep it up guys...

SC approves listing of Boustead Plantations

Boustead Holdings Berhad (BHB) has received approval from the Securities Commission for the proposed listing of its wholly-owned subsidiary, Boustead Plantations Berhad (BPB) on the Main Board of Bursa Malaysia Securities Berhad.

In a statement Monday, the conglomerate said the proposed listing would consolidate its plantation assets under BPB, allowing for greater economies of scale and streamlined operations with a view to optimising performance.

Upon listing, the total enlarged and paid-up share capital of BPB will be RM800 million comprising 1.6 billion shares.

Boustead Deputy Chairman and Group Managing Director Tan Sri Lodin Wok Kamaruddin said the corporate exercise was in line with Boustead’s long-term strategy to unlock the value of its investments, while the listing would allow it to strengthen its prospects in the plantation sector.

“Furthermore, existing shareholders and potential new shareholders will have the opportunity to take part in a pure plantation company that has a track record of delivering sustained earnings on a consistent basis.

“We are also offering existing BHB shareholders and the previous unitholders of Al-Hadharah Boustead REIT (Boustead REIT) IPO shares for application, enabling them to participate without having to ballot,” he said.

Boustead seeking shareholders approval on d listing
http://www.bursamalaysia.com/market/listed...cements/1573497

so they will offer some to the public or exclusive only for existing shareholders ala BJAUTO and IOIPG??

Both