Sealink IPO Malaysia: Finance Trading Times

Sealink IPO Malaysia

A new IPO or initial public offering is set to hit the Malaysian Capital markets. The IPO belongs to Shipowner and operator Sealink International Bhd.
Sealink IPO Malaysia
What is the expected size of the Sealink IPO Malaysia?
The Sealink IPO Malaysia is expected to raise around RM 141.71 million from its Initial public offerings.

How many shares will be sold through the Sealink IPO Malaysia?
As per the Sealink company statement, the listing exercise involved 128.37 million shares at RM1.25 each, comprising a public issue of 113.37 million new shares and offer for sale of 15 million shares.

Since this is a exercise option, how will the shares be allotted for Sealink IPO Malaysia?
Of the new 113.37 million shares, it would offer 28.37 million shares to the Malaysian public, 44.5 million for private placement, about 20.5 million for bumiputra investors and 20 million for eligible directors, employees and business associates.

What are the business valuations of Sealink IPO Malaysia?
Sealink is an integrated service provider in the Malaysian offshore oil and gas industry.
The company planned to expand its fleet of 29 vessels to 40 vessels in the next three years. The capital raised from Sealink IPO Malaysia will be used to funds to expand its shipyard and fleet.
The company would also ride on the buoyant upstream oil and gas industry industry and it was looking to include deep-water support services catering especially to the deep-water exploration and production activities of oil and gas industry
Sealink planned to invest between RM50mil and RM100mil over the next three years to upgrade the capabilities of the shipyards

What are the assets of Sealink Company Malaysia?
Sealink has two shipyards in Miri to cater to its shipbuilding activities. For the financial year ended Dec 31, 2007, shipbuilding contributed about 73% of revenue or RM118mil and 57% of gross profit or RM34mil.
Its vessels chartering business contributed about 27% or RM44mil to group revenue. Its fleet of 29 vessels consists of landing craft, multi-purpose vessels, tugboats, barge, supply vessel, utility vessel and passenger vessel.
Sealink’s customers include both local and international companies from the United State of America, Australia, China, India, Latin America, Europe, East Africa, Southeast Asia and the Middle East. Sealink’s export market contributed 80% or RM131 million to last financial year’s revenue.

What are the financial results of Sealink IPO Malaysia?
For financial year ended Dec 31, 2007, it posted revenue of RM162.7mil and RM58.9mil of gross profit.
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