JCY INTERNATIONAL BERHAD

JCY International Bhd, will be Malaysia’s second-largest initial public offering in six years, as they offer 25.9 percent of its stock in its IPO.

JCY’s will offer as many as 530.2 million shares, where 470,317,000 of the shares will be offered to institutional investors and the remainder (59,893,000: 40,898,000 to Malaysian public via balloting, 18,995,000 Eligible Directors, employees and persons who have contributed to the success of JCY) to individuals.

The sale may raise as much as RM1 billion (US$295 million), and that would make it the second-largest IPO in six years in Malaysia, after Maxis Bhd.’s record RM11.2 billion offering last year.

The retail price is currently set at RM2.00 per share and it can go lower if the institutional price is below RM2.11 (Final retail price will be either RM2.00 or 95% of the institutional price, whichever is lower).

Here are the tentative dates for this IPO:
Listing Schedule
Prospectus Date 01/02/2010
Opening of Applications 01/02/2010
Closing of Applications 08/02/2010
Tentative Balloting Date 11/02/2010
Tentative Allotment Date 24/02/2010
Tentative Listing Date 25/02/2010

Currently I'm still studying the prospectus, and has yet to decide to subscribe to this ipo. Of course the price for the opening day might be affected by the market sentiments. It can be the next Maxis where the price will shoot up on the first day of listing and remain stagnant for quite sometime. More updates on this ipo very soon! Stay tune folks!