ID :
121450
Tue, 05/11/2010 - 21:03
Auther :
Shortlink :
https://oananews.org//node/121450
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MASTERSKILL IPO SAID TO GET HUGE RESPONSE FROM FOREIGN INSTITUTIONAL INVESTORS
By M. Saraswathi
KUALA LUMPUR, May 11 (Bernama) –- Nursing school operator, Masterskill
Education Group Bhd, en route to Main Market listing on May 18, 2010, has
received a huge response from foreign instutional investors.
Its foreign institutional share subscription is said to be more than six
times oversubscribed despite a volatile market scenario.
Its chief executive officer, Edmund Santhara, however, has
neither confirmed nor denied the oversubscription rate.
He said the response during the roadshow was enormous.
"We have some big names (institutional investors). This reflects
Masterskill’s strength," he told Bernama here Tuesday.
At a time when a number of big names withdrew from listing as the global
equities markets are volatile, Masterskill opted to increase the share offer to
the maximum of 205 million shares
It was reported that Swire Properties, a major real estate developer in Hong
Kong, pulled out of a planned RM10.2 billion (US$3.19) share sale just two days
after Giti
Tire, China’s largest tyre maker, shelved a RM1.65 billion initial public offer
(IPO).
Last Friday, iron ore producer, China Tian Yuan, halted its RM1.72 billion
issue.
Masterskill's IPO, which would raise RM771 million, would be Malaysia's
largest this year and the second largest in South-East Asia this year.
The shares are offered at RM3.80 apiece for institutional investors and
RM3.50 for the public.
The retail offering of 25.5 million shares attracted applications with a
value of RM134.4 million for 38.4 million shares, which represents a
subscription rate of about 150 per cent.
Its market capitalisation will be approximately RM1.6 billion making it the
largest education provider in Malaysia by market capitalisation.
He said the shortage of nurses and allied science graduates was one of the
driving factors for the company, adding that there was also a lot of demand for
franchise.
"They are willing to set the hardware and want us to give the software such
as the syllabus and modules for the courses. But this is like playing chess
game, you got to look at the landscape and make the right move at the right
time," he said.
The risk should also be equally evaluated, he said.
"Hence, Masterskill will not rush into giving out franchise but will make a
progressive and stable move," he said.
-- BERNAMA
KUALA LUMPUR, May 11 (Bernama) –- Nursing school operator, Masterskill
Education Group Bhd, en route to Main Market listing on May 18, 2010, has
received a huge response from foreign instutional investors.
Its foreign institutional share subscription is said to be more than six
times oversubscribed despite a volatile market scenario.
Its chief executive officer, Edmund Santhara, however, has
neither confirmed nor denied the oversubscription rate.
He said the response during the roadshow was enormous.
"We have some big names (institutional investors). This reflects
Masterskill’s strength," he told Bernama here Tuesday.
At a time when a number of big names withdrew from listing as the global
equities markets are volatile, Masterskill opted to increase the share offer to
the maximum of 205 million shares
It was reported that Swire Properties, a major real estate developer in Hong
Kong, pulled out of a planned RM10.2 billion (US$3.19) share sale just two days
after Giti
Tire, China’s largest tyre maker, shelved a RM1.65 billion initial public offer
(IPO).
Last Friday, iron ore producer, China Tian Yuan, halted its RM1.72 billion
issue.
Masterskill's IPO, which would raise RM771 million, would be Malaysia's
largest this year and the second largest in South-East Asia this year.
The shares are offered at RM3.80 apiece for institutional investors and
RM3.50 for the public.
The retail offering of 25.5 million shares attracted applications with a
value of RM134.4 million for 38.4 million shares, which represents a
subscription rate of about 150 per cent.
Its market capitalisation will be approximately RM1.6 billion making it the
largest education provider in Malaysia by market capitalisation.
He said the shortage of nurses and allied science graduates was one of the
driving factors for the company, adding that there was also a lot of demand for
franchise.
"They are willing to set the hardware and want us to give the software such
as the syllabus and modules for the courses. But this is like playing chess
game, you got to look at the landscape and make the right move at the right
time," he said.
The risk should also be equally evaluated, he said.
"Hence, Masterskill will not rush into giving out franchise but will make a
progressive and stable move," he said.
-- BERNAMA
