KUALA LUMPUR: Kumpulan Kitacon Bhd has received approval from the Securities Commission Malaysia to list on the Main Market of Bursa Malaysia.

Kitacon, through its proposed wholly-owned subsidiary Kitacon Sdn Bhd, specialises in township construction, including residential and non-residential buildings within a development.

Kitacon's managing director Tan Ah Kee said the company aimed to leverage its established track record and services to continue growing its core competency and deliver long-term value to stakeholders.

"We intend to use the proceeds from the initial public offering (IPO) to support our business growth and strengthen our footing in the construction industry.

"We are confident that we will be able to grow our business moving forward, leveraging on long-established business relationships that we have built with our customers over the years," he said.

The company's IPO entails a public issue of 76.08 million new shares and an offer of sale of 62.5 million existing shares.

Of the shares allocated for the public issue, 10 million will be made available for the Malaysian public, while 8.58 million will be made available for application by eligible directors, employees, and individuals who have contributed to the company.

The remaining 57.5 million shares will be made available to institutional and selected investors through private placement.

RHB Investment Bank Bhd is the principal adviser, sole underwriter and sole placement agent for the IPO.

Source: https://www.nst.com.my/business/2022/10/840...-market-listing

This post has been edited by msbr91: Oct 19 2022, 12:09 PM

see the name i dare not invest already.....

Names very important hor...

Like AirAsia X.... Who on earth okay that brand logo?
Doomed from the start...


Ooops correction...



when they made that logo .... both Airasia and Airasia X kena X-ed



This post has been edited by Boon3: Oct 19 2022, 01:26 PM

Lolz...

The name of the company really epic 😂

Kitacon probably really Con people 😄😆😝

kita con sama dia

The one who think of this name is genius...

What a strange name m
Bring investor confidence ?

The only potential IPO that create so much hype on its name 😆

So much free publicity 😅

Can goreng or kena goreng.. Con or be Conned..Hmm

Only time would tell 😁

this one bahaya, already tell you, kita con same dia, furthermore construction section.

kita con kita is coming...

This post has been edited by sl3ge: Dec 28 2022, 04:05 PM

KITA good ? saham kita saham rakyat?

kitacon...fantastic name
goreng kaki directors
tak ada beli pon mau tengok apa jadi

tp rm1

Yes.
Really epic name..

Hopefully they don't con us all with poor performance upon listing 😏

This Kitacon make me remeber tjsetia and Haily group.

Ain't looking good....

May the force be upon us 😅

Most Bursa IPO is usually to speculate and current owners to downsize their holdings and debts and get out from it

Only few every year which is solid to apply otherwise forget about it

IPO price I think high 68 sen.I think I will pass to others to apply.

Any tp by investment so far?

Why this IPO is so quite.Is anybody applying.

Not yet from IB, research house only.

FV APEX RM0. 87
FV TA RM0. 80
FV MPLUS RM0. 76-RM0. 85

Got 2 days to consider, small allocation to public.

Lot people reject or took partially from MITI due to construction sector and many ipo in Jan 2023. This is before research house fv released. So probably more portion for public bumi allocation.

Not sure to try or watch only. Could be the next ds. Imho

#tayor

Warren Buffett >>

BE. GREEEEEDY when others are SHIVERINGGG = $$$$$

This post has been edited by IPO ADDICT: Jan 8 2023, 02:09 PM

Maybe scared they con the successful applicants 🤣
Weak below IPO price performance 😳😏

Ipo addict wat is your comment
why no tp rm1. 88
come on..... say something

Rm1. 00


This post has been edited by pileepalah: Jan 8 2023, 05:19 PM

NO SWEAT RM 1.00 ++

Huh ..

Don't have 1.88 ahhh 😝😂

Round number not lucky number 😂

today closing, skip. worry same like tjsetia/haily/siab performance.

I do agree with you.Those 3 are construction counters .Nowadays oversupply of new buildings

I skip lah.

Having doubt on this KitaCON fellow.....

To apply or skip...
Headache yo 🤪

Morning call on The edge TV target price 87 sen up from 68 sen.

I pass this IPO

The may goreng on first few days look at small portion allocate to public. but High Risk low return untill construction sectors back in play.

Public Bank FV RM0.96

Some say just go for fun...
Goreang-able counter...

But problem is how high??? Biggest headache...
Just few cents or below how? Burned lorh....

Skip...
Then open limit up?
Lost opportunity yo 😏

Not possible limit up for this counter. 68c, not cheap. I will skip!

This post has been edited by kb2005: Jan 9 2023, 02:49 PM

After deep thinking...
And looking at the sector involved...

Better to skip this KitaCON fellow 😏

apply small lor.
small share issue easy to goreng.

Hmmm....this is Public Bank laaa...
No need to say anymore to those risk averse
Let this scared liao mentality to Bang head on the Wall 10 X on listing day 17 Jan & miss a Jolly CNY $$$

Mine IPO ADDICT TP RM 1.00 ++ $$$ almost like Public Bank

Photo is you? but how you talk look like a guy.

hmm...
apply small huh???

good idea too..
less risk getting burn if not good openings...

heheheheh....

u guess

The name already told you CON! Still want meh

u guys making me doubt to buy or skip totally ...

never really happen like this before yo

Just watch this time,over or under subscribe.If under subscribe,

future construction ipo will be less.Either reduce IPO price or deffered listing
until such time is favourable.

easily over subscribed

this counter just wrong timing, PE is quite low, but construction sector not in time yet.

Won’t be 10X 🤦‍♀️

Public Bank is over bullish while the books already show slowing CAGR and they are township contractors while a lot of townships are slowing down and interest rates play a role now

Okay.
Final decision..

Skip.
Good luck everyone 🙏

Me too, takut macam tjsetia, siab, leform lari pun tak boleh.

This is. Public Bank ,TP 96 sen ....Wowww solid KOOL 41 % above rhe IPO price....and other IBs ,such as RHB n Brokers firm like TA , Apex , M+ ....all give solid TP / FV...

NO CURE ...NO TONIC Found TO THOSE overly AFRAID LIAO even dealing with relatively safe IIPO.. Don't expect this scared liao dudes to PUNT WARRANTS ( potentially very high % gain ) in the open market

Better for them to just buy old fashioned grandma .bank FD / Fixed Deposit for a NEVER FAILED PEANUT 3 % iafter 365 days @ 1 year .

This post has been edited by IPO ADDICT: Jan 9 2023, 06:51 PM

hopefully we make the right decision

Next stop is ballots....

Don't know how high is the oversubscribed rate...

But could be lower than normal???

this company could have use a better name
kitabina also sound better than kitacon
mean to be fail

KITA CON.. means they con you la..

Why do some investors make their decisions to invest based on the name of a company? They should have made their decisions based on fundamentals. Those who skipped this IPO will most likely miss out on a substantial premium on 17 January.

How much premium u expecting?

🤔😏

A total of 6,876 applications for 124,583,300 Issue Shares were received from the Malaysian
public, representing an overall oversubscription rate of 11.46 times. A total of 4,005
applications for 61,641,000 Issue Shares were received under the Bumiputera portion,
representing an oversubscription rate of 11.33 times, while 2,871 applications for 62,942,300
Issue Shares were received under the other Malaysian public portion, representing an
oversubscription rate of 11.59 times.

The 8,588,500 Issue Shares made available for application by Eligible Persons have also
been fully subscribed.



Attached File(s)
 Kumpulan_Kitacon_Berhad_Allotment.pdf ( 313.3k ) Number of downloads: 211

It is lower than normal judging by the number of applicants

Will be the next Senheng 🤦‍♀️

Wait for the sell off 1hour after listing and then you will cry as the owners are cashing out big time 🤦‍♀️

About 83 sen.

Not looking so good....

Acceptable level on oversubscribed rate 😎

This post has been edited by nexona88: Jan 11 2023, 08:00 PM

Mbb unsuccessful

Showing signs like Senheng 🤦‍♀️

Confirm on listing day 😏

Fantastic all wallaped liao....$$|$$|

PublicInvest Research
Kumpulan Kitacon Bhd - Township Contractor

PublicInvest
Publish date: Mon, 09 Jan 2023, 10:26 AM
Kumpulan Kitacon Bhd (KITACON) is a G7 building construction contractor involved in the construction of buildings in Malaysia. For the FY19 up to 6MFY22 financial period, KITACON carried out construction works for both residential and non-residential buildings. Residential buildings mainly consist of landed properties such as terrace, semi-detached and detached houses, cluster houses as well as townhouses, while non-residential buildings include commercial buildings such as shop offices and shopping mall, industrial buildings, purpose-built buildings such as sales gallery and clubhouse, as well as institutional buildings in the likes of school. For the stipulated financial period, a small proportion of KITACON's revenue was derived from other related services such as earthworks, roadworks, hoarding works, rectification works, piling works and infrastructure works.


We derive a fair value of RM0.96 based on an 8x PE multiple to its FY23F EPS of 12sen. The IPO is expected to raise approximately RM51.7m from the issuance of 76.1m new shares. Besides utilising 6.3% of the proceeds for working capital requirements, 46.4% and 38.7% of the proceeds are allocated for purchase of construction equipment as well as purchase of land together with construction of a storage and refurbishment facility, respectively
---- -----
Hmmmmm....96 sen ( 41 % ) Angpows from trusted PUBLIC BANK. ,worrrr....

Huarttt Chaiiii....$$$$$

Oso 4 brokers TA , APEX , M+ ,Mercury all give solid GREEEN $

Finally from independent Academician IPO ADDICT ,>>..??

RM 1.18...

This post has been edited by IPO ADDICT: Jan 12 2023, 03:12 PM

looking good

KUALA LUMPUR: Kumpulan Kitacon Bhd recorded a net profit of RM8.53mil in the third quarter ended Sept 30, 2022, on the back of revenue of RM116.09mil.

The construction services provider announced the results in a filing with Bursa Malaysia, which brought its nine-month performance to RM35.23mil net profit and RM350.82mil revenue.
- ----------

FANTASTIC.....PUBLIC BANK TP 96 SEN ( 41 % )

Can't rule out to hit RM 1.50 during this IPO MANIA now on going in the Bursa Market

This post has been edited by IPO ADDICT: Jan 14 2023, 07:02 AM

Black Market how much oreli
0.88cts can get or not

With the IPO MANIA / IPO CRAZY ....the black market price is heard around RM 1.00
The boss if not mistaken was a seasoned Golengg Kaki too

RM 1.20 -RM 1.50 is with in reach during this IPO MADNESS $$$$$
After all KITACON is a G7 TOP CLASS MAKING MONEY / PROFITABLE TOWNSHIP SPEACIALIST -CONTRACTOR
#HuattChaiii$$

This post has been edited by IPO ADDICT: Jan 14 2023, 01:07 PM

SENHENG...?...hmmm even if Senheng going to listing during this IPO MADNESS surely will give us BIG CNY ANGPOWS...Sengheng wrong timing listing early last year...pity

Take it Easy ,....Kool it , Sour Grape. Xander2k8...he he he

Welcome IPO FEVER - IPO MANIA - IPO MADNESS $$$$$

Today Kitacon to hit RM 2...?...got ,potential
Thanks to IPO MANIA now on going $$$$$

This post has been edited by IPO ADDICT: Jan 17 2023, 07:05 AM

why no love for this IPO since today its debut?..

quite a decent opening price...

so kita tak kena con?..

Open not con, later con.

Hmmm....SOLID. JACKPOT $$$$$

Sour grapes....kih kih kih 3X
A spicy lesson - Pay the heavy price of TAKUT >> heavy opportunity cost ( ECONOMICS 101 )

Thanks Kitacon for the CHARITY JACKPOT $$$$$$ ...perfect timing during this IPO Fever
JOLLY CNY $$$$$
Note : In stock trading , there is risk - a calculated risk

If want NO RISK ..yess there is a grandma Bank FD / Fixed Deposit for a never failded peanut after 365 days OR an Olang Kampong ASNB ASB / ASM for merely 4 % GUARANTEED chicken feed after 1 tired year of waiting

This post has been edited by IPO ADDICT: Jan 17 2023, 12:25 PM

Can’t even hit 1 and will be downhill from now 🤦‍♀️

Another Senheng in the making and it will go lower below to 0.50 after the holidays

Decent opening but downhill afterwards after those got the ipos been selling

Look for more downhill signs with more share dilution soon from ESOS

Another Senheng soon

Hmmm.. sour grape
Senheng opening at a loss...open 90 sen , ipo RM 1.07..

Fantastic KitaCon open 99 sen for a solid JACKPOT 46 %...

Still GREEEEN $

This post has been edited by IPO ADDICT: Jan 17 2023, 07:12 PM

For now wait until next week then you know 🤦‍♀️

The worst IPO so far. Even the big boys were rushing to sell from the start to the finish; hence the free fall.

The big boys are not keen to go against general public perception that all construction counters face poor prospects because of huge property overhang.

Kitacon specialises in building terrace houses where demand is good; about 85% of it revenue comes from this segment. It is free of bank borrowings.

The overhang is mainly in highrises i.e. condos and service apartments.

This round fall is because I believe those internal staffs are selling it 🤦‍♀️

Haven’t seen any major players shorting and once this happens after the ESOS I believe it will start falling big timee

For Directors & Employees, it is only 8.59 million shares.

Whereas for Placees & MITI, it is 120.00 million shares.

It is obvious who were the main sellers on listing day.