Perwaja Holdings Berhad (Perwaja or the Group),an intergrated upstream producer of primary steel products has launched its initial public offer (IPO) at Kuala Lumpur recently,in conjunction with its proposed listing on the Main Board of Bursa Malaysia Securities Berhad.The event was graced by Tan Sri Dato' Nor Mohammed Yakcop ,Malaysian Finance Minister II together with YBhg Tan Sri Abu Sahid Mohamed, Chairman of Perwaja Holding Berhad, YBhg Tan Sri Dato' Pheng Yin Huah , Managing Director of Perwaja Holdings Berhad, YBhg Dato Abdullah Mat Noh ,Chairman of RHB Investment Bank Berhad.Speaking at the event Tan Sri Abu Sahid bin Mohamed Chairman of Perwaja Holding said, The listing is timely as it alllows Perwaja to tap the capital markets and ride on the myriad opportunities presented by 
the global boom.From this IPO ,a total of 150 million Perwaja ordinary shares will be available for public subscription via the issue of 60 million new shares and 90 million vendor shares to be offered collectively by Kinsteel and Equal Concept Sdn Bhd, a wholly owned subsidiary of Maju.The Group expects to raise RM 173.5 million from the issue of 60 million new Perwaja ordinary shares,where net proceeds from this offering will be used for working capital expenditure,to fund the Group's expansion initiatives and to repay bank borrowings.Furthermore ,Perwaja plans to increase its production capacitiy of DRI and semi-finished long steel products,by upgrading its DRI reactors and re-commissioning its two existing electric arc furnaces,thus increasing the Group's annual production capacity of DRI and semi-finished long steel products by 0.3 million tonnes and 1.3 million tonnes respectively.The Group also plans its products.On the details of the 150 million shares offer( approximately 26.8% of the Group share capital of 560 million shares),101,476,000 will be offered to existing Kinsteel minority shareholders by way of a renounceable restricted offer.These shares will be priced at RM2.23 each, representing a discount of RM0.67 or 23.1% to the IPO price.In addtion, 11,200,000 shares priced at RM2.90 per share will be offered to the public.The remaining 26,124,000 shares will be offered to identified investors.RHB Investment Bank Bhd is the adviser,managing underwriter,placement agent and facility agent together withAffin Investment Bank Berhad and OSK Invesment Bank Berhad as underwriters for this listing.
the global boom.From this IPO ,a total of 150 million Perwaja ordinary shares will be available for public subscription via the issue of 60 million new shares and 90 million vendor shares to be offered collectively by Kinsteel and Equal Concept Sdn Bhd, a wholly owned subsidiary of Maju.The Group expects to raise RM 173.5 million from the issue of 60 million new Perwaja ordinary shares,where net proceeds from this offering will be used for working capital expenditure,to fund the Group's expansion initiatives and to repay bank borrowings.Furthermore ,Perwaja plans to increase its production capacitiy of DRI and semi-finished long steel products,by upgrading its DRI reactors and re-commissioning its two existing electric arc furnaces,thus increasing the Group's annual production capacity of DRI and semi-finished long steel products by 0.3 million tonnes and 1.3 million tonnes respectively.The Group also plans its products.On the details of the 150 million shares offer( approximately 26.8% of the Group share capital of 560 million shares),101,476,000 will be offered to existing Kinsteel minority shareholders by way of a renounceable restricted offer.These shares will be priced at RM2.23 each, representing a discount of RM0.67 or 23.1% to the IPO price.In addtion, 11,200,000 shares priced at RM2.90 per share will be offered to the public.The remaining 26,124,000 shares will be offered to identified investors.RHB Investment Bank Bhd is the adviser,managing underwriter,placement agent and facility agent together withAffin Investment Bank Berhad and OSK Invesment Bank Berhad as underwriters for this listing.
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