ONLY WORLD GROUP HOLDINGS BERHAD IPO

RM0.88.

Stock code stock name OWG stock.

Opening of application26/11/2014
Closing of application05/12/2014
Balloting of applications09/12/2014
Allotment of IPO shares to successful applicants15/12/2014
Tentative listing date18/12/2014

======

PUBLIC ISSUE OF 56,408,900 NEW ORDINARY SHARES OF RM0.50 EACH IN ONLY WORLD GROUP HOLDINGS BERHAD AT AN ISSUE PRICE OF RM0.88 PER SHARE PAYABLE IN FULL ON APPLICATION COMPRISING:

(l) 9,250,000 NEW ORDINARY SHARES OF RM0.50 EACH AVAILABLE FOR APPLICATION BY THE MALAYSIAN PUBLIC;

(ll) 4,000,000 NEW ORDINARY SHARES OF RM0.50 EACH AVAILABLE FOR APPLICATION BY THE ELIGIBLE DIRECTORS, EMPLOYEES AND OTHER PERSONS WHO HAVE CONTRIBUTED TO THE SUCCESS OF OUR GROUP;

(lll) 18,500,000 NEW ORDINARY SHARES OF RM0.50 EACH AVAILABLE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO BUMIPUTERA INSTITUTIONAL AND SELECTED INVESTORS APPROVED BY THE MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY, MALAYSIA; AND

(lV) 24,658,900 NEW ORDINARY SHARES OF RM0.50 EACH AVAILABLE FOR APPLICATION BY WAY OF PRIVATE PLACEMENT TO SELECTED INVESTORS,

IN CONJUNCTION WITH OUR LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD

===========

KUALA LUMPUR:  Only World Group Bhd (OWG), en route to listing on Bursa Malaysia, plans to raise RM50 million from its initial public offering (IPO).

OWG managing director and chief executive officer Datuk Richard Koh Cheng Keong said of the RM50 million, RM30 million will be used to refurbish the Komtar building in Penang, RM13 million for business expansion, RM2 million for working expenses and the balance as listing cost.

He was speaking after OWG’s prospectus launch, here, yesterday.

The IPO entails a public issue of 56.408 million new shares of 50 sen each at an offer price of 88 sen a share. It  includes 9.25 million new shares for the Malaysian public and four million new shares for eligible directors and employees.

Another 18.5 million new shares will be placed out to approved Bumiputera investors while the remaining 24.658 million new shares are for selected investors.

OWG is scheduled to be listed on December 18.

On the progress of the Komtar building refurbishment, Koh said the face-lifting cost was estimated at RM30 million, of which renovation cost for the top five levels was RM6 million.

“It is more than halfway completed. We hope to wrap it up by the third quarter of next year,” he said.

Established in 1973, OWG is a leisure and hospitality services provider that incorporates the operations of food and services outlets, water amusement parks and family attractions.

Its main income is from its brand restaurants such as Only Mee Fresh Noodles, Shanghai 10, Noodle & Lok Lok and QiQi Taiwan Cuisine.

These food and beverage outlets are predominantly located at the main hotels in Genting Highlands.

OWG also operates two franchised Marrybrown restaurants at two hotels in Genting Highlands.

New Straits Time online 27 nov 2014