USA NEWS CORP
KUALA LUMPUR, Malaysia, 27 November 2014 – USANEWSCORP
Only World Group Holdings Berhad (“OWG” or “Company”), which is involved in the leisure and hospitality industry is well on its way to being listed on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), following a ceremony today to mark the launch of OWG’s prospectus for its Initial Public Offering exercise (“IPO ”).
In conjunction with its listing on the Main Market of Bursa Securities, the IPO entails a public issue of approximately 56.41 million new ordinary shares (“Public Issue”) at an issue price of RM0.88 per share. The Public Issue comprised of 9.25 million shares that will be made available for application by the Malaysian Public, 4.00 million shares that will be available for application by the Eligible Directors, Employees and other persons who have contributed to the success of OWG, while 18.50 million shares will be made available for applications by the way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia (“MITI”) and the remaining 24.66 million shares shall be made available for applications by way of private placement to selected investors.
Speaking at the launch, the Managing Director and Group Chief Executive Officer of OWG, Dato’ Koh Cheng Keong said: “2014 is a significant year for OWG as we embark on our IPO journey for the listing on the Main Market of Bursa Securities. The drive for this listing exercise is to strengthen the stature and corporate profile of our Group, enhance market awareness of our businesses as well as funding our future business plans.”
Dato’ Koh Cheng Keong elaborated that the proceeds of approximately RM50 million to be raised from the IPO will be predominantly utilised for the refurbishment of five (5) levels within the KOMTAR Tower in Penang to create high end commercial space for retail, food & beverage and recreational purposes. This project is expected to be completed by third quarter of 2015.
Chief Executive Officer of Public Investment Bank Berhad, Mr. Teoh Cheng Soon said: “We are honoured to be appointed as the Principal Adviser, Sole Underwriter and Sole Placement Agent for OWG’s IPO and we are proud to bring such an established and esteemed company to the capital markets in Malaysia.”
Pursuant to the launch of OWG’s prospectus, applications for the Public Issue are open today and will close on Friday, 5 December 2014 at 5.00 p.m. OWG is slated to be listed on the Main Market of Bursa Securities on Thursday, 18 December 2014.
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