Berjaya Auto to raise RM57.93m from IPO

Berjaya Auto Bhd (BAuto) will offer 82.76 million new ordinary shares under its initial public offering (IPO) at an offer
price of 70 sen apiece to raise RM57.93 million.

In a filing to Bursa Malaysia today, BAuto said of the 82.76 million new shares, 41.45 million shares will be placed out to Malaysian institutional and selected investors.

It said 10.16 million shares will be allocated to Bumiputera investors while 19.16 million shares will be reserved for entitled shareholders of Berjaya Corp Bhd.

The remaining 12 million shares were reserved for eligible directors and employees, it said.

It said the tentative listing date will be on November 18, 2013