Sarawak-based oil and gas (O&G) support services provider Ocean Vantage Holdings Bhd, which is en route to an ACE Market listing, is offering 82.2 million new shares in an initial public offering (IPO) to broaden the range of services it offers to both upstream and downstream players.

It will also offer for sale 41.1 million existing ordinary shares to selected investors.

Of the 82.2 million IPO shares, which represent 20% of its enlarged share capital, 20.55 million shares are available for public subscription, 4.11 million shares are for application by eligible directors and employees, while 57.54 million shares are to be privately placed to selected investors.

The company envisions the proceeds raised will be used mainly to broaden its range of support services and as capital expenditure for its downstream O&G segment, other than to fund its general working capital.

The group said it plans to further expand its range of support services for the upstream O&G industry to include underwater diving services, as well as advanced non-destructive testing (NDT) and inspection services in an effort to broaden its revenue stream.

"Our group has limited exposure to the downstream O&G activities but we plan to further expand our business in that segment.

"We plan to further strengthen our EPC (engineering, procurement and construction) and project management capabilities for the downstream O&G segment to broaden our revenue stream and capture opportunities in the downstream O&G segment," said Ocean Vantage.

In tandem with the expected growth in its business, the group said a portion of the public issue proceeds will be used to finance additional working capital requirement such as the expansion of workforce and to secure distributorship for new products.

Ocean Vantage's history can be traced back to 2011 when it commenced operations as a provider of engineering, fabrication and NDT inspection and testing services.

Currently, the group supports upstream and downstream activities in the O&G industry by providing services such as EPC and project management, supply of manpower, materials, tools, and equipment, as well as drilling rig charter services.

In its financial year ended Dec 31, 2018, Ocean Vantage registered a net profit of RM5.17 million, up 71% from RM3.02 million in the preceding year, while revenue grew 27% to RM30.49 million.

This post has been edited by nexona88: Jul 22 2020, 01:37 PM

This Ipo is opening, close on 09/07/2020

Any buyers ? looks potential

Ocean Vantage to raise RM21.37m at 26 sen per share for expansion plans
https://www.theedgemarkets.com/article/ocea...expansion-plans

Opening Date : 30 Jun 2020

Closing Date : 09 Jul 2020

Ballot Date : 14 Jul 2020

Listing Date : 22 Jul 2020

Shares Offered To Malaysian Public : 20,550,000

Advisor : M&A SECURITIES SDN BHD

Can share TP from Investment bank?

Ocean Vantage Holdings Berhad

IPO Rating ( 1.5/5.0 Stars)

Copyright@http://lchipo.blogspot.com/

Industry CAGR 5.1% from 2010-2018, if we factor in inflation, basically is no growth industry CAGR.

[B]Oil & gas industry is more to sunset industry, as world is heading to green energy.

IPO Price: RM0.26

Good time: RM0.265 (PE16)

Bad time: RM0.135 (PE8)

This post has been edited by SURE ANGPOW: Jul 8 2020, 07:56 AM

Not recommended?

This post has been edited by SURE ANGPOW: Jul 8 2020, 08:44 PM

Huhuh...
Bad review....
But when balloting.. oversubscribed 😂😅🤣

HURRYYYYYY UPPPPP
TO CLOSED WITH IN MINUTES

This post has been edited by SURE ANGPOW: Jul 9 2020, 05:36 PM

Last month, OPEC and its non-OPEC allies, known as OPEC+, agreed to extend their deep production cuts through July in an effort to rebalance oversupplied markets in the face of pandemic-hit demand. The cuts were supposed to take ~10% off the markets with July's cut clocking in at 9.6 million bpd.

But now there are signs that the pendulum could have swung a bit too far, with the markets beginning to experience shortages of key crude grades.

There are growing signs that the markets are undersupplied with Urals and Arab Light thanks to continuing deep production cuts as well as a rebound in demand by key customers such as China and Northern Asia.

Ballot table


Attached thumbnail(s)

Pergghhhh 22 X over subsribed !

TP now >> 88 SEN

This post has been edited by SURE ANGPOW: Jul 14 2020, 07:19 PM

tp 33cts

ATTACCKKKKKKKKKKKKKKKKKK !

HOT SPICY TENDER WORMS WAITINGGG

Ocean Vantage more than doubles on market debut
https://www.theedgemarkets.com/article/ocea...es-market-debut

buy buy buy

Ocean vantage lol

Does anyone knows where they get their resources and inventory