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发表于 18-5-2007 09:03 PM
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原帖由 magnumao 于 18-5-2007 06:00 PM 发表
Pre IPO 的股东有
1.UHI (CHAO FAMILY RELATED) 41.01%
2.PNB 44.74%
3.CGDC BVI (CHAO FAMILY RELATED) 6.95%
4.JENITSH II CORP (CHAO FAMILY RELATED)
5.CHINA GENERAL DEVELOPMENT CORPORATION (CHA ...
不好意思，资料错误。paiseh
IPO price 确定为2.16
26 May 2005
Titan Chemicals' IPO - Biggest This Year
KUALA LUMPUR, 26 May 2005 - Titan Chemicals Corp. Bhd. (formerly known as Titan Petrochemicals & Polymers Berhad) launched its listing prospectus today, en route to listing on the Main Board of Bursa Malaysia Securities Berhad. This is the largest initial public offering (IPO) for 2005. Titan is Malaysia’s largest integrated olefins and polyolefins producer in Malaysia and the second largest polyolefins producer in South East Asia in terms of capacity.
The IPO will involve the issuance of 438.240 million ordinary shares of RM1.00 each. Of the total, 315.551 million are offered to foreign and Malaysian institutional investors and selected investors at an institutional price to be determined via a book-building exercise.
The remaining 122.689 million shares will be offered to the Malaysian public, eligible directors, employees and persons who have contributed to the success of Titan and its subsidiaries. The retail offering is set at an indicative price of RM2.17 per share. The final retail price will equal the lower of RM2.17 per share or 96% of the institutional price. A refund will be made in the event the final retail price is less than RM2.17 per share
The exercise is expected to raise approximately RM 1 billion, the bulk of which will be used for repayment of bank borrowings and as working capital.
Present to officiate the launch of the Prospectus was Deputy Prime Minister, Dato’ Sri Mohd Najib Tun Abdul Razak. Executive Chairman James Chao said, “Titan Chemicals is a Malaysian success story. We have world-class facilities in Johore which reflect a unique partnership between Government and the private sector. We produce a range of chemicals and over 100 grades of polyeythylene and polypropylene, which support a vibrant and fast growing fabrication sector. More importantly, we contribute about RM 4 billion per annum to the Malaysian economy via import substitution and export earnings. The listing will open the doors to Malaysians and other investors to share in our growth and success in the coming years.”
Chao added, “The listing of Titan Chemicals will fulfill a commitment made to the Government over fifteen years ago and position the company to meet future corporate objectives.”
For the year 31 December 2004, Titan Chemicals produced approximately 1.7 million metric tons of products comprising polypropylene, polyethylene and building block chemicals such as olefins and aromatics. It focuses on two key products – polyethylene (PE), the world’s largest plastics, and polypropylene (PP), one of the fastest growing plastics globally. Demand growth for both is driven by favourable substitution and new applications.
In 2004, Titan exported about 400 KT (kilo tons) of polypropylene and polyethlene to high growth markets like China, as well as niche markets such as Vietnam, Bangladesh and the Philippines.
Titan’s forecast after-tax profit for financial year ending December 31 2005 is expected to improve to RM604mil from RM262mil in 2004. Revenue for the group is expected to grow to RM3.9billion for the financial year ending 31 December 2005, compared with RM3.5billion a year earlier. The company has adopted a progressive dividend policy and will begin paying dividend for the financial year ending 31 December 2005.
Titan attributes its success to:
• being the pioneer and leader in the Malaysian market, with strong presence in China and the Asian markets.
• superior product mix and value-added services.
• its strong cost position, with low production and delivered cost due to its flexible and integrated operations.
Dato’ Nazir Razak, Group Chief Executive of Commerce International Merchant Bankers Bhd (CIMB) said, “We are confident that this investment proposition will be well received as we believe that this is an attractive investment opportunity articulated by an impressive management team.”
CIMB is Titan’s Chemicals’ financial adviser for the IPO and joint global coordinator and joint book-runners together with Goldman Sachs International. DBS Bank Ltd and Mayban Securities Sdn Bhd are other book-runners. BNP Paribas Peregrine (Singapore) Ltd, CLSA Asia Pacific Markets and RHB Securities Sdn Bhd are the co-lead managers. Underwriters for the retail offering are CIMB, RHB Securities Sdn Bhd, Mayban Securities Sdn Bhd, Avenue Securities Sdn Bhd and TA Securities Holdings Bhd. |
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