Retail Portion Oversubscribed by 6 Times For Boustead Plantations IPO

KUALA LUMPUR, June 16, 2014 – The initial public offering (IPO) of Boustead Plantations Berhad (BPB) received a strong response from investors, with its retail tranche for the Malaysian public being oversubscribed by 6 times. The IPO received 30,787 applications for 448 million shares valued at RM717 million from the Malaysian public.

BPB’s institutional offering to other institutional and selected investors (excluding Bumiputera investors approved by the Ministry of International Trade and Industry) comprising 102,374,000 IPO shares, was oversubscribed by approximately 12.4 times. Due to overwhelming response from institutional investors, the bookbuilding period was closed earlier on 9 June 2014.

The IPO consisted of 656,000,000 IPO shares, comprising 64,000,000 shares made available for application by the Malaysian public via balloting; 381,429,500 shares reserved for entitled Boustead Holdings Berhad (BHB) shareholders and entitled former unitholders of Boustead REIT; 47,000,000 shares set aside for eligible directors and employees of BPB and BHB; and an institutional offering of 163,570,500 shares. The final retail price and the institutional price were fixed at RM1.60 per share.

YBhg Tan Sri Dato’ Seri Lodin Wok Kamaruddin, Vice Chairman, Boustead Plantations Berhad, said, “We are heartened by the market’s sentiments towards our IPO by virtue of this oversubscription. We believe that this positive response is attributed to the fact that this IPO presents investors with an attractive opportunity to participate in the dynamic plantation sector which holds vast potential for growth.”

“This oversubscription also reflects the confidence that investors have placed on Boustead Plantations, as we have a solid financial performance and strong track record. Moving forward, we will remain focused on pursuing our strategic growth plans to ensure that we enhance value for our shareholders for the long-term,” concluded YBhg Tan Sri Dato’ Seri Lodin.

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