Glove maker Harps Holdings Bhd is issuing 2.6 billion shares consisting of institutional offering and retail offering for its proposed initial public offering (IPO) on the Main Market of Bursa Malaysia.

This represents 26% of its enlarged issued capital, according to its prospectus exposure on the Securities Commission website.

The institutional offering involves the offering of up to 2.3 billion IPO shares, representing up to 23.00% of its issued share capital.

Harps said 1.15 billion shares, representing 11.5% its its issued share capital will be for Bumiputera investors approved by the MITI.

The retail offering involves the offering of 300 million IPO shares, representing 3.00% of its issued share capital.

Harps is principally an investment holding company with two wholly-owned subsidiaries, Central Medicare and New Era Medicare.

Central Medicare is engaged in the manufacturing and marketing of examination gloves while New Era Medicare is engaged in research and development, manufacturing and distribution of surgical gloves.

Harps currently has one manufacturing facility in Malaysia and as at Dec 31 had 32 production lines and a total annual installed capacity of 8.2 billion gloves.

“As at Jan 31, we completed the new expansion to our manufacturing facility, increasing our production lines to 34 and our total annual installed capacity to 11.6 billion gloves.

“We intend to increase our total annual installed capacity to 19.5 billion gloves by the end of 2023 with a total of 54 production lines,” it said.

For the financial year ended Dec 31, 2020, Harps posted a profit after tax of RM514.48mil against RM37.59mil in 2019. Its revenue for the period surged to RM1.21bil from RM512.21mil previously.

Harps targets a payout ratio of up to 35% of it's profit after tax and minority interest of each financial year on a consolidated basis after taking into account working capital and maintenance capital requirements.

Maybank Investment Bank Bhd is the principal adviser and managing underwriter of the proposed listing.

I thought I wanna applied for this after reading this.

However, the earlier sentence was this...

So how did two lines magically increase production by 40-50%?

Got me excited for nothing. If their 34lines actually managed 12b gloves, that puts them in Hartalega range of ROE. 40K gloves/hour/line is no easy feat.

so their new additional 2 lines can produce that increase?
i didnt read the prospectus, but based on what you quoted, it seems to be that way?

this IPO just launch on miti website today together with Nestcon BHD ( 0.28)...

But price for HARPS BHD not determined yet..lol.. Looking at their PAT is on pare with big glove company..

Tarikh Penting
(tentatif)

Akhir Jun2021 - Pelancaran prospektus /pembukaantempoh tawaran

Awal Julai2021 - Penutupan tawaran/ Tarikh akhir pembayaran

Pertengahan Julai 2021- Penyenaraian di Pasaran Utama di Bursa Malaysia

https://www.miti.gov.my/miti/resources/Bumi...ings_Berhad.pdf

ceo is 31 years old with salary almost 1 mil per year and busy attending racing competition at toyota gazoo. i wouldn't put my money in this company.

Ya then stay away lo since u not confident with the ceo n company.

Ahh...
No wonder...
Actually google the CEO name..
Then saw all the racing picture...
Was thinking someone else or what.....

for goreng only

ceo 31yo, "high class rempit"... non issues...
people still hoot crazy.. like no tomorrow...

look at recent IPOs..
heck even Main Market one...
42x Oversubcribe..

this one sure way bigger....
close eye at least 5x oversubscribe
don't surprise if 10x above

ceo racing or not..look into the prospectus ...this company is good for long term holding..

Definitely won't oversubscribed. Nobody wants to buy new glove shares. Long term holders are too few. Already too many existing glove companies trading at low valuations. First day listing sure down. I am willing to short if it list at Market Cap of RM 2 billion.

After Tuju Setia...
It's endless possibilities....
Anything can happen 😁

Not sure about the per hour calculation because it won't run 365 days 247. But judging by its 2018 and 2019 figure, it is no better than comfort, which is kinda bad.

Tuju Setia is a pretty decent ipo. But harps, we really have to lowball them. I will bet my ass they will pull this IPO because no demand for their shares. I am sure bumi company will have bumi institution support, but also have to see the public sentiment.

Only time would tell...
Whatever... There's history... IPO pull out even after prospectus is unviled & retail portion open for subscription... They "suddenly" cancel the IPO 😁

Glove maker Harps gets nod for IPO

Glove maker Harps Holdings Bhd has received the green light from the regulators to proceed with its initial public offering (IPO) on the Main Market, according to sources.

bankers said that Harps’ roadshow with potential investors prior to its IPO has received positive responses.

“The company is expected to get some good cornerstone investors,” a source told

https://www.thestar.com.my/business/busines...ets-nod-for-ipo

Main market somemore.
Another ipo another hope

This post has been edited by Msxxyy: Jun 23 2021, 05:59 PM

gloving wave already over..still wan to riding on it?

Keep applying 😏
No apply zero chance

First day ride only 😁

As long can ride I will enter.

Probably undwrsuscribed. No first day ride. Nobody in their right mind will touch glove company, especially if it is not big 5 glove

No news regarding this IPO? X jadi?

maybe after CTOS listing?
August??

I doubt he wants to list. Who wants to buy Harp when they can buy Kossan Supermax Harta TG for dirt cheap price. At their current price, they are much cheaper than pre-pandemic if u deduct their cash amount and present value of next 3 months earnings.

If Harp wants to list they will find difficulty pricing their issue at a premium. Big funds can easily buy and sell Big 4 gloves because of the high liquidity. And in the scenario of glove price war, it make much more sense to stick with the Big 4 who has greater economies of scale than Harp.

If Harps price their issue at the prevailing industry PE, the price will not be attractive to the owners. Unless the owners want to exit and declare out the cash as dividends. But again, if they do that, Harps will be much less attractive.

But I don't discount that Harps owners really want to sell of their company through IPO even at a discount. That is a very bad sign for gloves because it is signalling the owners are very pessimistic about the future of gloves.

Read in my remisier Whatsapp group that Harps is postponed due to undersubscription.

Expected...
Glove is so yesterday

Huh?

Anyhow...
Someone would ask proof or undersubcribe thingy... Not yet open but already undersubcribe 🤣😆😅

Don't talk cock, he says 😁

Harps already open at MITI before this. My friend applied there but no response till today.

Same thing with CEKD. If you know lah about CEKD.

This post has been edited by msbr91: Jul 17 2021, 11:07 AM

because "u" grab all portions but run later.
All "ur" fault

------------------------------------------------------

btw my glove counters average 50% lost

You must have bought during the highs?

if this is true, u just confirm what u said to me earlier is a dumbass statment. U said i m negative in every thread, turns out my negativity turns out to be accurate for Harps. It is gonna be accurate for Haily too. Greenie

there's existing player around...
who crazy enough want go into this second tier player

same like those property listing....
good luck...

Got. Msbr91 wants this IPO. Got Topglove Supermax Kossan Harta dun want, but die die also want 2nd tier gloves.

Sohai. I already got TG and Carepls before this. Already sold both with huge profit.

How huge? State the amount here and let me laugh.

No need to brag to you. My task is to make money. Your task is to keep trolling. Please proceed with trolling if you are happy with that ☺️

U r dumb shit who proven time and again ur incompetence and lack of knowledge. Ur peanut gains are just an accident of coronavirus. U never been through downs. Stock market is not always easy to make money. Down the road people like u will dissappear from the stock market. It happens every cycle. U have nothing to brag to be honest. Everyone made money in stock market because of unprecented liquidity and supply chain disruptions. But based on ur shallow knowledge, u r clearly better off with a mutual fund in the long run. No offense.

This doesn't apply to u alone, but most of the newcomers here including tehoice. There is a remarkable lack of understanding here about markets and valuation. I know most of u will shrug it off because u made some peanuts during this unprecedented times. But time and time again will show that the stock market do not go up all the time. And most of u here will suffer a loss when the tide changes. Happens every cycle.

This post has been edited by Solar Calendar: Jul 18 2021, 09:31 PM

can say so. I IN during pre-peak (sold during peak) and post peak (thought will rebound), but they cant sustain after bonus issue/split.
earning = loss so Im like wasting time and transaction fee.

Just hold on for their dividends earnings for now

But if you bought Hartalega at 6.50 to 6.80 just hold on for dividends because the next growth phase will be in 2023 coupled with their stable customer bases unlike TG which is still got a long way to go only for this year

yeah, thats what my friend-broker told me too. will just hold it and take dividend, invest in medium to long term.
if any bad news atk TG again then really pain.
can only hope the ASP dont fall too much.

thx for advice btw.

No worries just for gloves hold more on Haratalega and don’t worry too much because of the revenue generation even after pandemic

TG if you worried try to trim or even sell off when the price is right because they have seriously no idea on how to resolve the ESG and CBP while others have already resolved it earlier

do any of you guys happen to download its prospectus exposure pdf? can share with me please?