IPOs for 2021 are expected to be better than 2020. Here’s that earlier article with this prediction. 30 IPOs expected for 2021. There has been a few IPOs already and the interest in them are also on the way up. Interest meant the oversubscription numbers. Now, we have another one on the way to list in the ACE Market of Bursa Malaysia.
Article in themalaysianreserve.com SOLAR Photovoltaic (PV) and Earthing and Lightning Protection (ELP) specialist Pekat Group Bhd expects to raise RM44.4 million under its proposed listing on the ACE Market of Bursa Malaysia Securities Bhd.
In a statement today Pekat shared that its listing is tentatively scheduled on 23 June 2021. The statement said, “Pekat will further utilise RM12.7 million (28.6%) for working capital requirements in particular for purchase of materials for its projects such as solar PV modules, solar PV inverters and ELP products and accessories; RM10.0 million (22.5%) to repay bank borrowings while the remaining RM3.7 million (8.3%) to be used to defray listing expenses for the IPO.”
Pekat is issuing 138.7 million new shares in Pekat representing approximately 21.5% of the enlarged share capital at an issue price of RM0.32 per share. Do read the full article here: Article in themalaysianreserve.com
Listings are also a sign for the market
When there are only a few companies going public, it also meant the companies may not be confident enough that their shares will be fully subscribed. Or that the valuation accorded to them will be good enough. When more companies see that the market is ready, more would want to go for listing. Usually, this helps the owners to also realise some profits by selling some of their shares too.
Else, if just rely on the salary alone, it is likely to be slow. I mean, if one has worked so hard to build up the company, why not share the future potential with the public while at the same time have some money to do what one pleases. For the public, if investing into a company also allows them to partake in future and perhaps a good dose of dividends, then that may also be a good choice too. Remember yeah, past performance is no guarantee for future performance. Due diligence is needed for all investments.
Love news like this and more? Sign up for daily investment news updates. Alternatively, Follow me on Telegram here.
Please LIKE kopiandproperty.my FB page to get daily updates about the property market beyond kopiandproperty.my articles. Else, follow me on Twitter here.
Sign up for KopiWeekly. (only once per week of property, finance, investment news and more)
Next suggested article: CTOS on the way to listing
Leave a Reply