Author Topic: HUNGRY INVESTORS FLOCK TO LEONG HUP IPO  (Read 111 times)

Offline DR KIM

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HUNGRY INVESTORS FLOCK TO LEONG HUP IPO
« on: April 27, 2019, 08:05:04 PM »
CORPORATE NEWS
Saturday, 27 Apr 2019   :clap: :clap: :thumbsup: :cash:


Institutional investors, hungry for a large initial public offering (IPO) after a drought in 2018, are flocking to Leong Hup International Bhd, as the company launched one of the most exciting new listings on Bursa Malaysia in recent years.

Bankers advising the deal said Leong Hup’s institutional offerings – a total of 839.5 million shares – have received overwhelming demand.

Ten cornerstone investors have committed to take up  the amount on offer .

The remaining 98 million shares, set aside for the Malaysian public at a maximum price of RM1.10 each, will be closed on May 3.

“We are extremely happy to receive such overwhelming demand from institutional investors,” Leong Hup executive director and group CEO Tan Sri Francis Lau said.

“We would like to get a higher price (for the IPO), but we think this is a fair price and we believe our investors can make money too,” he said after launching the group’s prospectus on Thursday.

The IPO got off the roaring start after Louis Dreyfus Company (LDC), one of the world’s biggest agriculture processor, said on Thursday that it is investing in Leong Hup.

“LDC cornerstone investment in Leong Hup’s IPO is in line with LDC’s strategy to diversify further downstream and strengthen our footprint in growth markets by partnering with key players in the feed, food and nutrition value chain,” its group CEO Ian McIntosh said.

Offline DR KIM

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Re: HUNGRY INVESTORS FLOCK TO LEONG HUP IPO
« Reply #1 on: April 28, 2019, 11:07:29 AM »
Hungry investors.... :clap: :thumbsup: :cash: :cash:

TP ?...RM2.XX   ;) 8)