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Press Release: OWG’s IPO sees 6.91 times oversubscription rate

December 10th, 2014 | adminowg | Tags:

PRESS RELEASE
FOR IMMEDIATE RELEASE

OWG’s IPO sees 6.91 times oversubscription rate

KUALA LUMPUR, 9 December 2014 – Only World Group Holdings Berhad (“OWG” or “Company” or “OWG控股”), which is involved in the leisure and hospitality industry has received a positive response for its impending listing on the Main Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), with its Initial Public Offering (“IPO”) oversubscribed by 6.91 times.

OWG received a total of 3,307 applications for 73.17 million shares from the Malaysian Public, representing an oversubscription rate of 6.91 times. A total of 1,366 applications for 29.59 million shares were received under the Bumiputera category, representing an oversubscription rate of 5.40 times, whilst 1,941 applications for 43.58 million shares were received under the other Malaysian Public category, representing an oversubscription rate of 8.42 times.

Managing Director and Group Chief Executive Officer of OWG, Dato’ Koh Cheng Keong said: “We are very encouraged by the public support garnered for our IPO, given the recent market sentiments. This positive subscription rate indicates investors’ belief in our business model and potential growth moving forward. With this, we are confident that we are on the right path as we aim to scale greater heights with our new corporate profile.”

The IPO will raise approximately RM50 million in proceeds for the Group, of which predominantly will be utilised for the refurbishment of five (5) levels within the KOMTAR Tower in Penang to create high end commercial space for retail, food & beverage and recreational purposes. OWG is slated to be listed on the Main Market of Bursa Securities on Thursday, 18 December 2014.

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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 amusement parks, family attractions and other services.

Issued by: JLPW Communications on behalf of Only World Group Holdings Berhad
Date: 9 December 2014sold in the United States except pursuant to an applicable exemption

For further media enquires please contact:

Jason Fong
Tel: +603 2166 9737 / +6012 952 0015
Email: jason.fong@jlpw.com.my

Anthony Lee
Tel: +603 2166 9737 / +6012 338 3705
Email: anthony.lee@jlpw.com.my

Forward-Looking Statements
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.

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