May 4 2021, 12:09 PM, updated 5y ago
Construction company Nestcon Bhd is offering 161 million new shares and also placing out 32.20 million existing shares as it seeks to list on the ACE Market of Bursa Malaysia.
The company said on Monday the 161.0 million new shares represented 25.0% of the group’s enlarged total number of shares.
Under the agreement, M&A Securities Sdn Bhd will underwrite 64.4 million of the 161 million new shares, comprising portions to be made available to the Malaysian public as well as eligible directors, employees, and persons who have contributed to the success of the group.
Of the 161 million new shares, it said 32.2 million will be allocated to the Malaysian public via balloting, another 32.2 million shares under the pink form allocations, 16.1 million shares will be placed out to selected investors and the remaining 80.5 million new shares placed out to approved Bumiputera investors.
Nestcon is involved in civil engineering and infrastructure works in Malaysia and its broad spectrum of expertise including the construction of residential, commercial, industrial, and leisure properties. It is also involved in earthworks, bridges, roadworks, and drainage systems.
Price : RM 0.28/share
Prospectus Launch/Retail Opening : 8 June 2021
Close Retail : 15 June 2021
Listing : 30 June 2021
https://www.miti.gov.my/miti/resources/Bumi...tcon_Berhad.pdf
This post has been edited by nexona88: Jun 17 2021, 01:01 PM
Nestcon Bhd (0235), Ace Market
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to give any Fair Value / TP on this Cons -Property Co 
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