HE Group Bhd aims to raise RM24.33mil in proceeds from its upcoming initial public offering (IPO) for business expansion purposes.

The electrical engineering service provider, slated for a listing on the ACE Market of Bursa Malaysia on Jan 30, 2024, said RM15.13mil or 62.19% of the gross proceeds will be used to supplement the working capital requirements in tandem with the expected growth in the group’s business.

Meanwhile, RM3.65mil or 15% of the gross proceeds is earmarked for business expansion, including the growth of the group’s workforce, strengthening of its internal capabilities, and the establishment of two new offices in Kedah and Johor.

The group is also allocating RM1.75mil, representing 7.19% of the gross proceeds, for capital expenditure while the remaining proceeds will cover listing-related expenses.

With an enlarged share capital of 440 million and an IPO price of 28 sen per share, the group will have a market capitalisation of RM123.2mil upon listing.

HE Group managing director Haw Chee Seng said the group's order book amounted to RM211.91mil as at Dec 15, 2023, which would keep the group busy until end-2024.

“Our track record in serving critical and high-value industries such as semiconductors, medical devices, and electronic product industries demonstrates our strengths and capabilities.

https://www.thestar.com.my/business/busines...mil-in-from-ipo

Opening of application - 12 Jan 2024

Closing of application - 18 Jan 2024

Balloting of application - 22 Jan 2024

Allotment of IPO shares to successful applicants - 29 Jan 2024

Tentative listing date - 30 Jan 2024

KUALA LUMPUR: HE Group Bhd plans to raise RM24.33 million for business operations and expansion through its upcoming initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia.

The electrical engineering services provider will be listed on Jan 30, 2024.

The group's IPO exercise comprises the issuance of 86.89 million new shares in HE Group, constituting 19.75 per cent of HE Group's enlarged share capital.

Out of the 86.89 million new shares, 22.00 million will be made available to the Malaysian public via balloting; and 11.00 million shares will be to eligible directors, employees and persons who have contributed to the success of the group. The remaining 53.89 million shares will go towards private placements to selected investors.

With an enlarged issued share capital of 440.00 million shares and an IPO price of RM0.28 per share, HE Group will have a market capitalisation of RM123.20 million upon listing.

Out of the total proceeds, RM15.13 million, constituting 62.19 per cent of the gross amount, is allocated to support HE Group's operational needs, aligning with the anticipated business expansion.

Another RM3.65 million or 15 per cent of the gross proceeds is designated for HE Group's growth initiatives, encompassing workforce expansion, enhancement of internal capabilities, and the establishment of two new offices in Kedah and Johor.

Additionally, the company is earmarking RM1.75 million or 7.19 per cent of the gross proceeds, for capital expenditure, with remaining funds intended to cover expenses associated with the listing process.

HE Group managing director Haw Chee Seng said that the company's IPO is geared towards actualising strategic expansion initiatives, solidifying their standing as a significant player in the industry.

"Our track record in serving critical and high-value industries such as semiconductors, medical devices, and electronic product industries demonstrates our strengths and capabilities."Leveraging on this, we are confident in expanding our industry coverage to include data centres, a sector experiencing increased investments due to favourable government policies and sharing the critical need for high-quality power supply," he added during the prospectus launch today.

Timetable for IPO
Opening of application: 12 Jan 2024
Closing of application: 18 Jan 2024
Balloting of application: 22 Jan 2024
Allotment of IPO shares to successful applicants: 29 Jan 2024
Tentative listing date: 30 Jan 2024

This post has been edited by ronnie: Jan 16 2024, 10:34 PM

Thanks mod admin lowyat forum for merging duplicate thread on same IPO

ronnie boss please take note

this one interesting, expanding into data centres with presence to be available in johor

looks healthy too overall, just not really a fan of high gearing ratios

nice of the mod to merge together.... sorry we posted about 5 min away from each other

Actually I also didn't know about this IPO

Someone PM me ask to open 1....

same same maybe insider

Aiya, becauae too good, dont want you to enter hehe

#tayor

Lolz 😆😂

Anyway tomorrow closing

Any TP / FV to share

Apex 0.62

anybody can share the IPO ref number until now.tq

0.28 to 0.62 ???
APEX high ke ?

They got the price wrong. FV 62sen is based on price 50sen. Actual price is 28sen. TA give FV 44sen

updated: apex changed the FV to 36sen

This post has been edited by nuke13: Jan 17 2024, 03:00 PM

i wonder whether this has good sub rate

if they can utilize the funds to expand into data centre that would be nice

Any opinions on the company prospect??

Having some doubt

Hope more tp tomorrow...will apply some

Gud lucks

Good start for my Maybank number 3766

Applied

Applied some 🔥

PIVB FV 0.38

" 3766 " >>hmmm.... NICE & POTENTIAL MAGNUM 4D & TOTO NO. TOO....

WE NEVER KNOW >> striking JACKPOT with " 3766 "

This post has been edited by IPO ADDICT: Jan 18 2024, 09:53 AM

MBB reference no around 5k liao

CIMB 996xx. Running number same as Master. i am not too sure why!

which reference number is correct 5xxx or 3xxx MBB...

17-Jan 10PM is 3766
Now 5k reported on 18-Jan 10AM

your application number ?

yes, public portion

not sure to apply or not..

It's 5xxx 🙏

MBB 729X

#tayor

kalau suh saya apply, saya apply petang ni

woah already 7k

jangan tunggu last minit...
nanti sistem jem baru tahu

jangan camtu boss, ko ni buat aku kecut je, kkk aku apply skrg huhu

MBB 8001 now

TP : 0.50

cepat2 apply.
kasi share no ref ya

mbb

83xx

mbb 85xx

already ref no 8700, agak2 how many Oversub??

This post has been edited by tomjason: Jan 18 2024, 04:32 PM

done apply at 4:44 pm, ref no 90xx already.

Maybe 50 time

Done at 4.57PM, Ref no 92XX ady

heng ar ong ar huat ar

Probably already 10k 🔥

i think 95XX maybe , i 4.57PM apply 92XX ady, last 3 min i dont think have 700PPL apply

This post has been edited by John8888888: Jan 18 2024, 05:28 PM

Ahh too bad
Was thinking can hit 10k 💪

No 5592 on 17.1.2024 around 11pm maybank

We have other banks also

This post has been edited by nikazwa: Jan 18 2024, 05:59 PM

Next Monday is Balloting time.
shall know the oversubscribe rate then

This IPO fight with Master Tec...
Suprise HE Group not a customer of Master Tec but buy from Southern Cable

Mercury give FV 36 sen

Today balloting..63 times oversubscribed

share link boss

didn't see in website

insider news from TIIH ?

https://theedgemalaysia.com/node/698182

hottest below 30c ipo..

chose to jump on the wrong boat

Mana table takde mari?

Tricor Investor & Issuing House Services Sdn Bhd (“TIIH”) wishes to announce that the 22,000,000 Issue Shares made
available for application by the Malaysian public has been oversubscribed.
A total of 12,201 applications for 1,415,604,300 Issue Shares with a value of RM396,369,204.00 were received from the
Malaysian public, which represents an overall oversubscription rate of 63.35 times. For the Bumiputera portion, a total of
7,533 applications for 801,903,900 Issue Shares were received, which represents an oversubscription rate of 71.90 times.
For the public portion, a total of 4,668 applications for 613,700,400 Issue Shares were received, which represents an
oversubscription rate of 54.79 times.
Meanwhile, 11,000,000 Issue Shares made available for application by the eligible Directors, employees and persons who
have contributed to the success of HE Group have also been fully subscribed.
Further, the Placement Agent has confirmed that the 53,889,700 Issue Shares and 44,000,000 Offer Shares made available
for application by way of private placement to selected investors have been fully placed out.
The notices of allotment will be posted to all successful applicants on or before 29 January 2024.
Alliance Islamic Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Placement Agent for this IPO.

https://www.tiih.com.my/content/press_relea...isAllotment.pdf

Sudah mari...tq ichigo

geng chow oreli
this CNY ang pau should be very big
sapa dapat .Kong Tze Fatt chai

this IPO sure huat ah. hope i get this.

mbb : pending ......

Cimb result out !!!!!
Very lucky have some peanut

Congratulations 🎉👏

CIMB not alloted!

Cimb now can apply? Last time cannot

Mbb still pending..

MBB waiting list! Finally.

What u mean cannot???

Don't understand 🤔

Pending ffs

Cimb need to use cgs, through bank cannot already

Result out..auto reverse

got some unit..hope this one flyyy

My mbb still pending zzzz

Quarterly rpt on consolidated results for the financial period ended 30 Sep 2023

https://www.bursamalaysia.com/market_inform...?ann_id=3417093

another big big dragon food on the way
very possible listing at 0.68cts

Hottest ipo in Jan 2024

If so so KJTS can fly hi, HE 🐉.

#tayor

Mbb still pending..tomorrow listed

Maybe you got it.

NO MITI " HE GROUP " IPO like KJTS

LIMIT UP RM 1.40 ?....

This post has been edited by IPO ADDICT: Jan 29 2024, 07:55 PM

Now should know results yo 🤔🧐

EARLY BIRDS.,...
Spicy tender juicy worms waitingg...

88 SEN....then exploding to RM 1.00 ++

TO 0.52

now 55

Angpow

Think 0.50 is FV

Changed 0.45

TO 0.46

Congratulations all🥳

50% profit
Not much but good enough

be patient
closing 50 -60 sen ?....

Not bad performance 👍

Such a good Ipo

HE Group’s share price opened at 43 sen, representing a premium of 53.57% over the issue price of 28 sen, with an opening volume of 9,817,200 shares.

This robust debut follows an IPO oversubscription of 63.35 times, reflecting strong confidence in HE Group’s business operations and growth potential.

https://www.businesstoday.com.my/2024/01/30...e-market-debut/