Kuala Lumpur, Feb 8 - Serba Dinamik Holdings Bhd, an energy services group, with operations locally and overseas, providing engineering solutions to the oil and gas and power generation industries, made its official debut on Wednesday as a public listed company on the Main Market of Bursa Malaysia Securities Berhad.
The Company began trading at the opening of trading at 9:00AM this morning under the stock name SERBADK and stock code 5279.
Group Managing Director / Group Chief Executive Officer of Serba Dinamik Holdings, Datuk Dr. Ir. Mohd. Karim bin Abdullah says the listing marks the realisation of hours and months of hard work invested by their dedicated management team and diligent staff as well as the guidance and support of team of advisers and relevant authorities towards making this IPO a success.
“I am also very proud to share with you that the listing of Serba Dinamik Holdings today marks one of the largest listing by market cap on Bursa Securities since May 2015.”
The response to Serba Dinamik Holdings’ Initial Public Offering (“IPO”) was favourable, with its retail tranche of 26.7 million new shares applied for by the Malaysian Public registering an oversubscription rate of 4.96 times.
Through its IPO, Serba Dinamik Holdings has successfully raised a total gross proceeds of RM407.1 million from its public issue, of which approximately 73.69% of the proceeds will be utilised for the company’s business and operational facilities expansion, and approximately 7.20% of the proceeds will be utilised for working capital.
Further 14.74% of the proceeds will be utilised for the repayment of bank borrowings, and the balance of 4.37% will be utilised to defray the listing expenses.
Karim shares, “We have a solid line of business growth strategies in place by leveraging on our core competencies of operating within the O&G and power generation industries and also expanding our asset owner business model.”
“Going forward, we will be enhancing our business activities to offer a broader range of products and services to our customers both locally and overseas, among other initiatives. The expansion and establishment of our facilities will further enlarge our capabilities, to anticipate and fulfil higher volume of orders and serve more customers in the future. In short, we have a promising road ahead of us which we believe will further strengthen our competitive advantages within the industry and generate diversified yet incremental and recurring revenue streams for our Group.”