by BERNAMA / pic source: Swift Group
SWIFT Haulage Bhd, which is scheduled for a listing on the main market of Bursa Malaysia on Dec 21, is expected to raise about RM161.9 million from its IPO based on an issue price of RM1.03 per share.
The integrated logistics provider said that its IPO comprises a public issue of 157.14 million new shares and an offer for sale of up to 157 million existing shares.
“It will be one of the largest IPOs of the year, having attracted the support of cornerstone investors that took up approximately 58.7% of the institutional offering (excluding shares offered to Bumiputera investors approved by the Ministry of International Trade and Industry),” the company said in a statement in conjunction with the launch of its prospectus yesterday.
The institutional offering of up to 271.21 million shares represents 30.93% of the enlarged issued shares while the retail offering amounts to 38.93 million shares or 4.37% of the enlarged issued shares.
The company said that 17.8 million issue shares from the retail offering will be available for application by the public via balloting, of which at least 8.9 million shares will be set aside strictly for Bumiputera investors.
Group CEO Loo Yong Hui said Swift Haulage’s impending listing on Bursa Malaysia comes at an opportune time as global economic recovery continues.
“Our compelling growth story and investment merits has garnered the support of reputable institutional investors such as AIA Group Ltd, AmFunds Management Bhd, AmIslamic Funds Management Sdn Bhd, Areca Capital Sdn Bhd as fund manager of Areca Dynamic Growth Fund 10, Kenanga Investment Bank Bhd, HSBC Global Asset Management (HK) Ltd, Nikko Asset Management Asia Ltd, UOB Asset Management (M) Bhd and Zurich Life Insurance Malaysia Bhd,” he said.
Swift Haulage, which started in 2011, has a staff strength of 3,284, a fleet of 1,546 prime movers, 5,518 container trailers and 811 box/ curtain-sider trailers.