SkyWorld Development Bhd is seeking a listing on the Main Market of Bursa Malaysia.

SkyWorld, via its subsidiaries, are mainly involved in property development, property investment, management services, treasury management, e-commerce business, and management consultancy services.

The proposed initial public offering (IPO) comprises a public issue of 208 million new shares, and an offer for sale of 192 million existing shares. The issue price of the shares has yet to be fixed.

Of the 208 million new shares, a total of 50 million shares will be allocated to the Malaysian public, 25 million shares for SkyWorld’s eligible directors and persons who have contributed to the success of the group, and 133 million shares will be made available by way of private placement to institutional and selected investors.

Meanwhile, the offer for sale of 192 million shares consists of 150 million existing shares for private placement to Bumiputera investors approved by the Ministry of International Trade and Industry, and 42 million existing shares that will be placed out to institutional and selected investors.

SkyWorld posted a consolidated profit after tax (PAT) of RM65.25 million for the financial year 2020 (FY2020) on a revenue of RM523.86 million as opposed to a PAT of RM63.31 million for FY2021, when revenue was RM488.8 million. Its PAT for FY2022 then jumped to RM104.29 million, as revenue rose to RM790.45 million.

Moving forward, the company said it plans to replenish its land bank to seek potential land for acquisition in the Klang Valley, and that it wants to launch 11 new developments between 2023 to 2026 with a total gross development value of RM4.61 billion.

It plans to develop build-to-rent properties, including commercial squares and co-living spaces in Kuala Lumpur, and to expand its urban property development business model into Ho Chi Minh City in Vietnam.

On its dividend policy, SkyWorld targets a payout ratio of 20% of its annual consolidated PAT attributable to owners of the group for each financial year after taking into account its working capital requirements.

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

This post has been edited by nexona88: Jul 10 2023, 04:00 PM

Skyworld like the theme park at genting?

property developer

Lolz 😆😂

Anyway it's property developer...

Heard it's "friendly" to one of UMNO warlord.. that lost unexpectedly in GE15.....

This post has been edited by nexona88: Dec 13 2022, 09:53 PM

That was my immediate thought as well 😆

Umno?.so many lost in GE15

Yeah big Umno Putrajaya supporter but still got influence a bit

I think this would be easy to get compared to others and will look highly goring stocks

Yes.
But still got some level of influence That old guy hand 😏

Smart 🤓
Without even mention name u already know who I'm talking about 👍👏

Possible to get easier....
But u know sometime it's irrational of people thinking....
The one we target undersubcribe get oversubscribed... Meanwhile the one we target is hot oversubscribed get less demand....

Endless possibilities 😂

That is why like Casino de Bursa

Need to look at current projects on hand and their cash flow but as for macroeconomics the uncertainty of budget passing is the key reasons why a lot of retailers would hold back buying these stocks

Yes. Need to look into their reports....

Uncertainty in new gomen policy is biggest issues now...
Don't know what the new minister have plans....

Nanta Linggi as the current minister gonna be nightmare look at his previous role already know 🤦‍♀️

Definitely will be reviewing major infra projects but I believe Sabah and Sarawak will still go on

S&S is very important....
Sure whatever project planned goes on usual 💪

Let's see later on...
Maybe change of working style... Smarter than previous time as minister...
Who knows...

Won’t be smart as this joker is power hungry and do nothing and kowtow to master only 🤦‍♀️

Not sure whether Skyworld projects are all residential based or got infra on the side

Need to do a comparison with KP to see valuation worth it or not

When can apply the IPO ? 🤔
Already listed ?

Next year I guess...

Not yet open or listed 😎

Thanks for info, btw do you know how much mb2u charge for apply IPO? 🤔

Rm1 per application

Non refundable...

Thank you for your info 🤠

privatequity

the thread u ask for