Construction services company TCS Group Holdings Bhd is planning an initial public offering (IPO) on Bursa Malaysia’s ACE Market involving 25% of its enlarged share capital, to finance the group’s capacity expansion to enable it to bid for larger scale projects.

The IPO will involve the issuance of 90 million new shares at an issue price to be fixed, of which 10.8 million shares will made available for public subscription, and up to 7.2 million shares will be set aside for the company’s (and its subsidiaries’) eligible directors and employees, its draft prospectus put up on the Securities Commission Malaysia website shows.

Of the remainder, it plans to place out 32.4 million shares to institutional and selected investors, and 39.6 million shares to identified bumiputera investors. In addition, it will offer 18 million existing shares to institutional and selected investors by way of private placement.

TCS said it has been operating in the construction industry in Malaysia for about 20 years and is experienced in both residential and commercial projects, besides other civil works such as roads, water and sewerage treatment plants. As at April 30 this year, it had seven ongoing projects with an outstanding order book of RM544.06 million.

TCS is controlled by managing director Datuk Tee Chai Seng, who has an 84.42% stake in the company, and his wife Datin Koh Ah Nee with 14.9%. Following the public share sale, their shareholdings will be reduced to 59.07% and 10.42%, respectively.

The company guided that it will be using proceeds raised from the listing to fund its purchase of new construction machinery and equipment, and for working capital purposes. In terms of financials, TCS’ net profit rose 90.3% from RM5.09 million in the financial year ended Dec 31, 2016 (FY16) to RM9.69 million in FY18, while revenue climbed 41.1% from RM103.63 million to RM146.27 million.

This post has been edited by nexona88: Jul 25 2020, 06:37 PM

buy?

Price (RM) : 0.23

Opening Date : 29-06-2020

Closing Date : 10-07-2020

Balloting Date : 14-07-2020

Listing Date : 23-07-2020

Total Shares Offered : 90,000,000

Public Shares Portion : 10,800,000

IPO Advisor : RHB INVESTMENT BANK BERHAD

its time to dig for some golds.

can o not....??? construction co...

Difficult to decide.

Super BULL nowww.....

IPO Mania again

This post has been edited by SURE ANGPOW: Jul 10 2020, 05:12 PM

HURRYYYYYYYYYY UP

few minutes left

applied this ipo, skipped ocean vantage lol

i also bought some.
initially que for Reservoir Link Energy Bhd but got refunded i believe once Reservoir Link Energy Bhd IPO, i believe it will fly.

never encounter such an early refund from Reservoir Link Energy Bhd
lets hope i got TCS haha... quite a bargain at 0.23 with the company vision and their financial health

Where to find the ballot result for TCS?

Edit: Found it.

http://www.mih.com.my/images/content_image...0_BASIS_TCS.pdf

This post has been edited by coolguy99: Jul 14 2020, 07:05 PM

http://www.mih.com.my/images/content_image...0_BASIS_TCS.pdf

fuhhh got 9k units despite the low success rate

Congrats those allocated 🤑

I was using CIMB to apply for the IPO shares.
But I still haven't got the refund yet.
I dont think im lucky enough to get all units i applied.
Is it just because CIMB is slightly slower?
any 1 apply via cimb??

TCS Group Holdings Bhd said its initial public offering has been oversubscribed by 33.39 times.

Its IPO entails the public issuance of up to 90 million new ordinary shares representing 25% of its enlarged total number of shares (public issue), and an offer for sale of up to 18 million existing shares (offer shares) at an issue price of 23 sen per share. The company will raise approximately RM20.7 million from the public issue.

The 90 million public issue includes up to 10.8 million issue shares for the Malaysian public via balloting (including 5.4 million for Bumiputera investors or Bumiputera balloting portion), up to 7.2 million shares for eligible directors and employees, 32.4 million shares for institutional and selected investors by way of private placement, and another private placement of 39.6 million shares to identified Bumiputera investors.

The ACE-Market bound building and infrastructure construction services provider said in a statement that it received a total of 5,825 applications for 371.4 million shares, worth RM85.42 million. This comprises 2,776 applications for 123.77 million shares for the Bumiputera balloting portion, which translates to an oversubscription rate of 21.92 times; and 3,049 applications for 247.622 million shares for the public balloting portion, which represents an oversubscription rate of 44.86 times.

The 7.2 million shares for eligible directors and employees have also been fully subscribed, while the private placements have been fully placed out, the group added.

The notices of allotment will be posted to all successful applicants on or before July 21, it said.

"We are very pleased with the positive response for our IPO, as it reflects the market’s confidence towards TCS Group’s growth prospects. This is indeed an opportune time for us to further strengthen our foothold and capitalise on the opportunities in the construction industry, underpinned by the prospective property launches in our clients’ pipeline, as well as the implementation of various government measures and economic stimulus packages,” said TCS Group Managing Director Datuk Tee Chai Seng.

“Moving forward, we will channel our proceeds raised to further strengthen our presence in the high rise, purpose-built and institutional buildings segments, backed by our established track record in building construction projects. In addition, we also plan to broaden our revenue stream by venturing into infrastructure construction services to include major roads, highways and bridges.”

TCS is scheduled to be listed on the ACE Market of Bursa Securities on July 23. Upon listing, it will have a market capitalisation of RM82 million, based on the issue price of 23 sen per share and its enlarged total number of 360 million shares.

RHB Investment Bank is the sole principal adviser, sponsor, sole underwriter and sole placement agent for the IPO exercise, it concluded.

Chinese dato how to secure big contracts?

applied, but failed to get any.

all the best to everyone who got it.

mkt burning hot...tp 40cts

mkt burning hot...tp 40cts

cut loss