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Tuesday, December 15, 2015

OCK rights issue oversubscribed by 28.16%

KUALA LUMPUR (Dec 15): OCK Group Bhd ( Valuation: 0.80, Fundamental: 1.60)'s rights issue with warrants has been oversubscribed at the close of acceptance and payment on Dec 8, with a total of 338.44 million valid applications for the issuance.

The company said in a statement that the number of valid applications received represented an oversubscription of 28.16%, over the total number of 264.08 million rights shares available for subscription.

The rights shares and warrants are targeted to be listed on Dec 22, 2015.

“We would like to thank our shareholders for their support and belief in OCK Group Bhd. With the proceeds on hand, the group will further expand our telecommunication infrastructure business in Malaysia, as well as in the ASEAN region,” said OCK managing director Sam Ooi Chin Khoon.

The group said it aims to expand either through the acquisition of telecommunication companies or assets, or via building its own telecommunication infrastructure and equipment.

OCK said it had, with its partner King Royal Technologies Co Ltd, entered into a memorandum of understanding (MoU) with Telenor Myanmar Ltd, to build and lease tower infrastructure to Telenor.

The agreement is expected to be finalised this month.

OCK closed unchanged at 72.5 sen today, for a market capitalisation of RM574.4 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

OCK rights issue oversubscribed by 28.16%
Ahmad Naqib Idris

KUALA LUMPUR (Dec 15): OCK Group Bhd's rights issue with warrants has been oversubscribed at the close of acceptance and payment on Dec 8, with a total of 338.44 million valid applications for the issuance.

The company said in a statement that the number of valid applications received represented an oversubscription of 28.16%, over the total number of 264.08 million rights shares available for subscription.

The rights shares and warrants are targeted to be listed on Dec 22, 2015.

“We would like to thank our shareholders for their support and belief in OCK Group Bhd. With the proceeds on hand, the group will further expand our telecommunication infrastructure business in Malaysia, as well as in the ASEAN region,” said OCK managing director Sam Ooi Chin Khoon.

The group said it aims to expand either through the acquisition of telecommunication companies or assets, or via building its own telecommunication infrastructure and equipment.

OCK said it had, with its partner King Royal Technologies Co Ltd, entered into a memorandum of understanding (MoU) with Telenor Myanmar Ltd, to build and lease tower infrastructure to Telenor.

The agreement is expected to be finalised this month.

OCK closed unchanged at 72.5 sen today, for a market capitalisation of RM574.4 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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