As I have been busy planning for my Aussie trip and working hard as well as keeping abreast with my professional fields like attending seminars, reading journals and doing CME (continuing medical education) online, I almost overlook the exciting upcoming MSM IPO. Yes, the prospectus was issued online on 2 June to coincide with the opening of this IPO application. The closing date is 13 June and its listing is scheduled on 28 June.
It is really a short period just before my travel and I have to muster some fund to apply for this IPO. The current offer unit price is at RM3.38 (just look at that number... quite enticing isn't it ? Especially for those who believe in numeracy and feng shui ( I am guilty of this madness!). The final price will be 97% of the institutional price offer which is determined through book building. Now where do I get this fund? Making it worse , I believe in the number 33 whenever I apply for an IPO.
Well, if there is a will there is always a way. This IPO should not be missed by anyone who is a local stock market investor. Just try our luck, if we are successful well and good, if not at least we participate in the balloting. Imagine if we don't apply at all, there is absolutely no way we are going to know our luck. It is analogous to having a horse to ride than no horse at all!
Having said that, it is time also for me to clear off the comatose "crocodiles" in my current portfolio.To let them continue being in coma is not going to give me any excitement every now and then. In fact, the clearance will add to my needed fund.
I have downloaded and read the prospectus and have decided to go for this IPO. I will keep some fund just in case my application is not successful and have to buy the shares in the open market. By hook or by crook I must have this stock despite some people voicing out their lack of confidence in a GLC.
Yes, MSM Malaysia Holdings Bhd previously known as Malaysian Sugar Manufacturing Co. owned by billionaire Robert Kuok , was sold to FELDA (Federal Land Development Authority) about two years ago at the cost of RM1.25 billion. It is a leading sugar producer that controls about 57% of the domestic market. It will be listed under the consumer product sector in Bursa Malaysia.
GLC or not, sugar is needed in our daily life. Of course for some it is a controlled use by virtue of their medical condition!
Good luck to all applicants!
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2 comments:
I will try to apply this IPO too. Wish good luck to both of us. :)
We must apply so that at least we stand a chance, however small. If not successful I will buy in the open market a week or two after its proposed listing on 28 June.
Someone said the target price is between 3.60-3.90 and that it would trade like a REIT! Whatever it is there will be an oversubscription.
The public issue portion is small at about 14m so we really need luck to get this IPO.
Good luck to you AC.
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