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Type | Announcement |
Subject | OTHERS |
Description | BOUSTEAD PLANTATIONS BERHAD (“BPB” OR “COMPANY”) CESSATION OF STABILISING ACTION IN RELATION TO THE INITIAL PUBLIC OFFERING OF ORDINARY SHARES OF RM0.50 EACH IN BPB (“BPB SHARES”) IN CONJUNCTION WITH ITS LISTING ON THE MAIN MARKET OF BURSA MALAYSIA SECURITIES BERHAD (“BURSA SECURITIES”) (“IPO”) |
We refer to the announcement dated 23 June 2014 in relation to the stabilising action in relation to the IPO. Pursuant to Section 9(3) of the Capital Markets and Services Act 2007, Capital Markets and Services (Price Stabilisation Mechanism) Regulations 2008, AFFIN Investment Bank Berhad (“AFFIN Investment”) as the stabilising manager (“Stabilising Manager”), hereby announces that the last date of the stabilising period is 25 July 2014. AFFIN Investment, Maybank Investment Bank Berhad, Credit Suisse Securities (Malaysia) Sdn. Bhd., AmInvestment Bank Berhad and CIMB Investment Bank Berhad (collectively, the “Placement Managers”), being the Placement Managers for the IPO, had over-allotted 64,000,000 BPB Shares to the institutional investors. During the stabilising period between 26 June 2014 and 25 July 2014, the Stabilising Manager had undertaken stabilising actions whereby a total of 38,345,100 BPB Shares were purchased at a price range of between RM1.58 per BPB Share to RM1.60 per BPB Share. The last purchase was made on 25 July 2014 at a price of RM1.60. On 25 July 2014, the Stabilising Manager, on behalf of the Placement Managers, had exercised the over-allotment option for a total of 25,654,900 BPB Shares granted by Boustead Holdings Berhad (“Selling Shareholder”) over the entire 64,000,000 BPB Shares. The 38,345,100 BPB Shares purchased under the price stabilisation action and the net proceeds from the sale of the 25,654,900 BPB Shares in relation to the exercise of the over-allotment option will be returned to the Selling Shareholder. This announcement is dated 25 July 2014. |
Announcement Info
Company Name | BOUSTEAD PLANTATIONS BERHAD |
Stock Name | BPLANT |
Date Announced | 25 Jul 2014 |
Category | General Announcement |
Reference No | MI-140725-60520 |