Con­struc­tion firm GDB to list on ACE Market

The Sun (Malaysia) - - SPEAK UP -

PE­TAL­ING JAYA: Con­struc­tion com­pany GDB Hold­ings Bhd is look­ing to list on the ACE Market of Bursa Malaysia and will use the pro­ceeds from its pro­posed ini­tial pub­lic of­fer­ing (IPO) for cap­i­tal ex­pen­di­ture and work­ing cap­i­tal.

In a draft prospec­tus ex­po­sure on the Se­cu­ri­ties Com­mis­sion web­site, the group said the bulk of the fund raised will be used for the pur­chase of new con­struc­tion ma­chin­ery and equip­ment, a new of­fice and land in Se­lan­gor.

GDB’s IPO in­volves the pub­lic is­sue of 125 mil­lion new shares, of which 12.5 mil­lion shares will be made avail­able for Malaysian pub­lic, 15 mil­lion for el­i­gi­ble direc­tors, em­ploy­ees and per­sons who have contributed to the group’s suc­cess.

The re­main­ing 25.6 mil­lion shares will be made avail­able by way of pri­vate place­ment to iden­ti­fied in­vestors, and 71.87 mil­lion shares to iden­ti­fied bu­mipu­tra in­vestors ap­proved by the Min­istry of In­ter­na­tional Trade and In­dus­try.

There will also be an of­fer-for-sale of 37.5 mil­lion of ex­ist­ing shares via pri­vate place­ment.

GDB’s or­der book com­pris­ing un­billed por­tions of projects-in-progress stands at RM695.97 mil­lion, to be recog­nised pro­gres­sively over the next four fi­nan­cial years to 2020.

For fis­cal year 16, GDB’s net profit more than dou­bled to RM16.09 mil­lion, from RM7.18 mil­lion in the pre­vi­ous year.

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