FOR IMMEDIATE RELEASE
Only World Group Holdings Berhad lists on
the Main Market of Bursa Malaysia Securities Berhad
KUALA LUMPUR, 18 December 2014 – Only World Group Holdings Berhad (“OWG” or “Company”), which is involved in the leisure and hospitality industry, was successfully listed on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”) and officially commenced trading under the stock short name of OWG and stock code of 5260 at the opening of trading at 9.00a.m.this morning.
Speaking after the listing ceremony, the Managing Director and Group Chief Executive Officer of OWG, Dato’ Koh Cheng Keong said: “OWG’s listing today marks not the end of our IPO journey, but rather the new chapter of our growth journey towards a higher level. Further, I would like to take this opportunity to express my deepest gratitude to all parties who that have contributed to this success.”
“This Initial Public Offering (“IPO”) has provided us with the opportunity to implement a business plan to strategically position the Company on an even more solid and stable footing within the industry in terms of having sustainable revenue growth,” he added.
Moving forward, OWG targets to strengthen its presence by expanding its footprint in the northern region of Malaysia, i.e. Penang. Majority of the proceeds raised from the IPO will be utilised for the KOMTAR Revitalisation Project in Penang, which is expected to be completed in the third (3rd) quarter of 2015.
The IPO, which entailed the issuance of 56.41 million new ordinary shares at an issue price of RM0.88 per share, had raised RM49.64 million in proceeds for the Group, of which RM30.00 million will be utilised for the refurbishment of five (5) levels within the KOMTAR Tower in Penang. The Company also intends to utilise RM13.00 million from the IPO proceeds for the setting-up of ten (10) new food service outlets and for the expansion of the Wet World Water Park Shah Alam in Selangor. The remaining balance of the IPO proceeds will be utilised for working capital purposes and listing expenses.
OWG is the only leisure and hospitality industry player listed on Bursa Securities in 2014 and its IPO had garnered 6.91 times oversubscription for the public portion. Public Investment Bank Berhad is the Principal Adviser, Sole Underwriter and Sole Placement Agent for OWG’s IPO.
About Only World Group Holdings Berhad
Only World Group Holdings Berhad (“OWG”) was incorporated in Malaysia under the Companies Act 1965 on 8 November 2012 as a private limited company under the name of Only World Group Holdings Sdn Bhd and was subsequently converted to a public listed company limited by shares on 6 June 2013.
OWG is an investment holding company and are engaged in the provision of management services whilst their subsidiaries are principally providers of leisure and hospitality services incorporating the operation of food service outlets, water parks, family attractions and other services.
Issued by: JLPW Communications on behalf of Only World Group Holdings Berhad
Date: 18 December 2014sold in the United States except pursuant to an applicable exemption
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The statement included in this press release, other than statements of historical facts, are forward-looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “plan,” “seek,” or “believe.” These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward- looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward- looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events.