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Jadi Imaging to go public by March
Jadi Imaging on expansion trail January 2006
JADI
Imaging Holdings Bhd plans to expand ible with the state of his
business,” Alexander said. “I think it’s a statement of confidence that
Europe is recovering. He leaves the company in good hands. We’ll havts
operations to new markets and products, as it seeks to become one of
the top three biggest independent toner manufacturers in the world by
2008.
To date, Jadi Imaging is the sole manufacturer of toners in Malaysia and the biggest in South-East Asia.
In 2004, the company exported to 34 countries with export revenue accounting for 94.4 per cent of the company’s total revenue.
Its main export markets are China, Indonesia, Ukraine, Brazil and Thailand, the company said in a statement.
“Currently, the group manufactures black toners only.
“However,
to meet the projected future growth in demand for colour toners due to
the rapid growth in the use of the Internet and declining price of
colour printers, the group has commenced research and development
(R&D) work on full colour toners and plans to begin production in
2007,” it said.
Jadi Imaging yesterday signed its underwriting
agreement with RHB Sakura Merchant Bankers Bhd for its flotation on the
second board of Bursa Malaysia Bhd.
Representing Jadi Imaging was
its executive chairman and chief executive officer Liew Kim Siong,
while RHB Sakura was represented by its chairman Datuk Abdullah Mat Noh.
Jadi
Imaging will be making a public issue of 96 million new 10 sen ordinary
shares priced at 22 sen per share and an offer for sale of 76 million
10 sen ordinary shares priced at 22 sen per share.
Of the 96 million
new shares to be issued, 30 million shares will be made available for
application by the Malaysian public while 20 million shares will be
made available for application by the eligible directors and employees
of Jadi Imaging and its subsidiary companies and persons who have
contributed to the success of the group.
The remaining 46 million shares have been reserved for Bumiputera investors.
The
offer for sale of 76 million shares is reserved for Bumiputera
investors approved by the Ministry of International Trade and Industry.
As
part of the listing and an incentive to the shareholders of Jadi
Imaging subsequent to the public issue and offer for sale, Jadi Imaging
will make a bonus issue of 50 million new shares to be issued to all
shareholders of Jadi Imaging prior to the listing on the basis of one
new share for every eight shares held after the public issue and offer
for sale.
As such, the theoretical ex-bonus/reference price upon listing will be 19.6 sen per share.
Currently,
Jadi Imaging’s manufacturing operations are carried out through its
wholly-owned Malaysian subsidiary, Jadi Imaging Technologies Sdn Bhd .
The
entire enlarged issued and paid-up capital of Jadi Imaging of RM45
million comprising 450 million shares is scheduled to be listed on the
second board in the first quarter of 2006.
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