Latest news with #MarketofBursaMalaysia
The Star
16-05-2025
- Business
- The Star
ACE Market-bound Oasis Home's IPO oversubscribed 1.55 times
PETALING JAYA: Oasis Home Holding Bhd initial public offering (IPO) of shares to the public have been oversubscribed by 1.55 times ahead of its listing on the ACE Market of Bursa Malaysia on May 28. In a release, the omni-channel consumer lifestyle products marketer and seller's IPO comprises the offer of 150 million ordinary shares which include a public issue of 100 million new ordinary shares at an issue price of 28 sen per share. The offer for sale of 50 million existing shares by way of private placement to selected investors was also successfully completed, the company noted in a statement. The 62.5 million issue shares reserved for Bumiputera investors approved by the Ministry of Investment, Trade and Industry have been fully placed out after applying the relevant clawback and reallocation provisions as set out in Section 4.3.4 of the prospectus of Oasis Home dated April 25, 2025. The company plans to allocate RM13.7mil of proceeds raised to expand its live commerce sales channels, including launching at least five new live commerce channels and expanding its team. Another RM3.6mil will be utilised to establish its own fulfilment centre while RM2mil will be set aside for setting up of a new headquarters. With its enlarged capital and priced at 28 sen a share, the Group will have a market capitalisation of RM140mil.
Borneo Post
30-04-2025
- Business
- Borneo Post
IPO proceeds to boost Hartanah Kenyalang's assets, orderbook
Seah (centre) speaks during the press conference after the prospectus launch today. KUCHING (April 30): Hartanah Kenyalang Bhd (Hartanah Kenyalang) will utilise proceeds from its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia to expand its assets, in addition to expanding its design and build services. Hartanah Kenyalang is principally an investment holding company, while its subsidiary, Hartanah Construction Sdn Bhd, is involved in building construction services, with a focus on institutional buildings such as schools and other public buildings, and other non-residential buildings; as well as infrastructure construction services, with a focus on bridges and roads. Against the backdrop of growth prospect in Sarawak's construction sector, its managing director Seah Boon Tiat said Hartanah Kenyalang plans to utilise part of the proceeds from IPO exercise to purchase six new excavators to replace some of its older excavators in order to increase our capacity and productivity. 'In addition, we also plan to expand into offering design and build services for our building construction services segments and infrastructure construction services segments by investing in Building Information Modelling system (BIM),' he said during a press conference after its prospectus launch earlier today. BIM is a technology that can digitise various aspects of a construction project, enabling seamless collaboration among project owners, architects, consultants, engineers and contractors by using a 3-dimensional model. As at 30 April 2025, Seah said Hartanah Kenyalang has tendered for various building and infrastructure construction projects with an aggregate contract value of RM451 million, of which RM311 million is in respect of a design and build construction project. its current orderbook stands at some RM150 million, he said. 'By expanding our design and build services, we are confident that this strategic move will enable us to climb up the construction industry's value chain and to increase our overall competitiveness in the marketplace,' he added. To note, the group has 11 years of operating history in the construction industry in Sarawak since commencing business operations in 2010. Among the ongoing construction projects currently undertaken by the group include the construction of the State Archive building in Kuching; construction of school buildings and related facilities for Yayasan International School in Sibu and Kuching; construction of two dilapidated school buildings and related facilities, namely SK Tambay in Kota Samarahan and SK Kujang Mawang in Serian; as well as the construction of the Sebauh Bridge in Bintulu as a rescue contractor. The group has also undertaken a construction project in the neighbouring state of Sabah where the Group is involved in the construction of the Sg Padas Bridge in Tenom. Among the construction projects completed by the group in the past include the construction of six dilapidated schools at various locations in Sarawak; construction of commercial shophouses for Samariang Square in Petrajaya, Kuching; infrastructure works for the Pan Borneo Highway from Serian to Pantu Junction in Sarawak; construction of commercial shophouses at Jalan Matang, Kuching; and provision of piling works for the Kuching International Airport Hanger in Kuching. assets Hartanah Kenyalang Bhd IPO lead orderbook
The Sun
25-04-2025
- Business
- The Sun
Oasis Home prices IPO shares at 28 sen each, expects to raise RM28m
KUALA LUMPUR: Consumer lifestyle products marketer and distributor Oasis Home Holding Bhd expects to raise RM28 million from its initial public offering (IPO) on the ACE Market of Bursa Malaysia. Out of the RM28 million, RM13.7 million (48.93%) is for the expansion of its live commerce sales channels, RM3.6 million (12.86%) for setting up its fulfilment centre and RM4.3 million (15.36%)for working capital. Additionally, the company will use RM2 million (7.14%) to establish a new headquarters and allocate the remaining RM4.4 million (15.71%) for listing expenses. The group leverages a mix of online and offline platforms to drive sales and consumer engagement. Its primary digital sales channels include live commerce platforms, its proprietary mobile application, and its website – Oasis Home – which together serve as the group's core e-commerce hubs. Additionally, Oasis Home extends its digital footprint through e-commerce marketplaces such as Lazada, Shopee, and TikTok Shop. As part of its digital marketing initiatives, the group employs targeted advertising across social media platforms to boost visibility and connect with a broader audience. To complement its online presence, the group also integrates an online-to-offline strategy by offering in-person experiences through its product experience centres located in Bukit Jalil, Kuala Lumpur, and Johor Bahru, Johor. At the launch of the prospectus today, CEO Datuk Teoh Yee Seang said it signals a new chapter of growth for Oasis Home. 'The proceeds from our IPO will play a key role in accelerating our expansion plans, particularly in strengthening our live commerce presence.' Teoh said it plans to introduce five new live commerce channels across Facebook and TikTok to connect with more customers through real-time experiences. 'In parallel, we will be setting up our fulfillment center to support this growth. This will reduce costs and enhance profit margins as our live commerce footprint expands.' Looking ahead, Teoh said the live commerce space continues to gain momentum, especially in Southeast Asia, where the market is projected to see strong growth over the next two years. 'Malaysian consumers are among the top three globally in terms of livestream viewership and purchasing activity, with more than half of viewers making purchases during sessions. Our strategic focus on live commerce is aligned with these evolving consumer behaviours, and we are confident in our ability to seize the opportunities ahead and further grow our market presence.' Teoh said Oasis Home targets to pay at least 30% of its consolidated profit after tax as a dividend, subject to the group's financial position and other financing requirements. The group's IPO involves the public issuance of 100 million new ordinary shares, representing 20% of the group's enlarged number of issued shares, as well as an offer for sale of 50 million existing shares, or 10% of the enlarged issued share capital. Of the public issue of 100 million shares, 25 million will be made available to the Malaysian public via balloting and 10 million issue shares to its directors and employees who are eligible to participate in the IPO. The remaining 62.5 million issue shares and 2.5 million issue shares will be made by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry and to selected investors, respectively. Select investors will have access to 50 million offer shares through a private placement. Based on the IPO price of 28 sen per share and its enlarged share capital of 500 million shares, Oasis Home will have a market capitalisation of RM140 million upon listing. For the financial year ended June 30, 2024, Oasis Home's revenue grew to RM54.82 million from RM40.88 million recorded in the financial year ended June 30, 2022, reflecting a two-year compound annual growth rate (CAGR) of 15.8%. Notably, the live commerce segment contributed 75.65% of total revenue for FY24. Over the same period, net profit saw a CAGR of 22.93%, rising from RM5.34 million to RM8.07 million in FY24. The group is scheduled to be listed on the ACE Market of Bursa Malaysia on May 28. MIDF Amanah Investment Bank Bhd is the principal adviser, sponsor, underwriter, and placement agent for the IPO.
