Malaysia's Serba Dinamik Engineering Group Will Open IPO In February

Malaysia's Serba Dinamik Engineering Group Will Open IPO In February

February, its CEO said, in what would be the country's biggest listing in 19
months.

Serba, which provides engineering solutions to the oil and gas and power
sectors, will use part of the IPO proceeds for cross-border acquisitions,
focusing on companies with manufacturing capabilities, CEO Mohd Abdul Karim
Abdullah said.

"We want to add on to our field services and offshore capabilities. [Through
these acquisitions] we can also supply parts to the clients," he said.

The company will offer 389.4 million shares in the IPO with a retail price
of 1.50 ringgit each, though the final offer price will be determined after
a book-building exercise with institutional investors in January, Karim told
Reuters in an interview.

Reuters had reported in August citing sources that the group was looking to
raise about 600 million ringgit in an IPO.

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com