The initial public offering (IPO) involves 389.41 million shares of 50 sen each, representing 29.17% of its enlarged issued and paid-up share capital, according to the group’s draft prospectus published on the Securities Commission Malaysia’s website. The IPO comprises a public issue of 271.4 million new shares, and an offer for sale of up to 118 million shares. Of the lot, up to 341.3 million shares have been earmarked for institutional offering; the retail portion is made up of 48.1 million shares to directors and employees, as well as the Malaysian public. Serba Dinamik provides engineering solutions to the oil and gas and power generation industries, and has operational facilities in Malaysia, Indonesia, the United Arab Emirates, Bahrain and the UK. Serba Dinamik, which is a Petroliam Nasional Bhd-licensed company in Malaysia, also plans to adopt a dividend payout ratio of at least 30% of its net profit each financial year.

Source: The Edge Markets October 10, 2016 02:03 UTC