FOR IMMEDIATE RELEASE
Only World Group inks Underwriting Agreement with Public Investment Bank for its IPO exercise
KUALA LUMPUR, 24 October 2014 – Only World Group Holdings Berhad (“OWG” or the “Company”), a Company that operates in the leisure and hospitality industry which is en route for a listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), has today penned an Underwriting Agreement with Public Investment Bank Berhad for its Initial Public Offering (“IPO”) exercise.
The IPO exercise entails a public issue of approximately 56.41 million new ordinary shares, where 9.25 million shares will be available for application by the Malaysian public, 4.00 million shares 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 available for application by way of private placement to Bumiputera institutional and selected investors approved by the Ministry of International Trade and Industry and approximately remaining 24.66 million shares is available for application by way of private placement to selected investors.
Public Investment Bank Berhad is the Principal Adviser, Sole Underwriter and Sole Placement Agent for OWG’s IPO exercise.
Commenting on the signing of the underwriting agreement, Managing Director and Group Chief Executive Officer of OWG, Dato’ Koh Cheng Keong said: “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.
The proceeds to be raised from our IPO exercise would be predominantly utilised for the expansion of our food service outlets and other future business plans which include amongst others, the refurbishment of five (5) specified levels within the KOMTAR Tower in Penang, where we will focus on the operations and management of food service and other retail outlets”.
He further added: “We are honoured to have PIVB on board as our sole underwriter which further rallies our confidence to continue our exciting journey, as we aim to scale greater heights with our Company.”
Head of Corporate Finance & Advisory of Public Investment Bank, Mr. Lee Yo-Hunn said: “We are pleased to be given the opportunity to play a key role in the listing of OWG on Bursa Securities. With the strong foundation in the food & beverage business and a wealth of experience in amusement and recreation operations, we are confident that it will serve them well as they embark on the next phase of their business expansion plans.”
Barring unforeseen circumstances, the Company is expected to launch its Prospectus by end of November 2014.
With its headquarters in Shah Alam, Selangor, OWG is a leisure and hospitality services provider that incorporates the operations of food service outlets, water amusement parks and family attractions and other services. To date, the Company operates food service outlets serving a variety of cuisines under its sixteen (16) own brands and a third party brand, across five (5) states in Malaysia, namely Pahang, Selangor, Sarawak, Johor and Negeri Sembilan. OWG also operates three (3) water amusement parks under the Wet World brand as well as two (2) family attractions, namely Ripley’s Believe It Or Not and Haunted Adventure.
Its other businesses include amongst others, running a resort, operating souvenir imaging services, children entertainment services and sports activities.