Last day to apply *New IPO* NESTCON BERHAD (0235) ACE Mark | StockiesMY

Last day to apply
*New IPO*
NESTCON BERHAD (0235)

ACE Market - Bursa Malaysia
RM0.28 per IPO share

Important Dates
1. Application Opening: 8 June 2021
2. Application Closing: 17 June 2021
3. Listing: 29 June 2021

Main Business
Building and infrastructure construction services provider in Malaysia

*Record-High Tenders To Buoy Growth Ahead*_
*Nestcon (NESTCON MK, NR, TP:MYR0.37)*
*IPO Note*

Fair value of MYR0.37 based on 12x FY22F P/E. Nestcon aims to raise MYR45m via its IPO. About 30% (MYR13.6m) of that will be used to buy construction machinery and equipment, establish an IBS facility for the building division, and upgrade software and systems. The remainder is for financing working capital and partially de-gearing its balance sheet.

*Link to our report:* https://research.rhbtradesmart.com/view-file/hash/1247061168475790960c9289f42c54

*RHB Research*