ListedACE Market· 0320· Shariah-compliant

Steel Hawk IPO

Energy, Infrastructure, Equipment & Services. Offered at RM0.15 a share, listed on 5 Sept 2024.

Offer price

RM0.15

Shares offered

81.5m

RM12m at offer

Market cap at listing

RM74m

Offer period

16 Aug 2024 to 23 Aug 2024

Listing date

5 Sept 2024

Principal adviser

UOB Kay Hian Securities (M) Sdn Bhd

Timeline

Offer opens
16 Aug 2024
Offer closes
23 Aug 2024
Balloting
Done
Listed
5 Sept 2024

Oversubscription

276.8×

Public applications for 276.8 times the shares on offer, 34,838 applications.

First day of trading

+100%

Opened above the offer price, closed +130% on day one.

About Steel Hawk

Steel Hawk provides onshore and offshore support services to Malaysia's oil and gas industry, operating across three segments: EPCC services for chemical injection skids and topside facilities improvement/maintenance, installation and maintenance of oilfield equipment, and supply of oilfield equipment.

First-day forecast

CISCOM's forecast for Steel Hawk is available to Pro members.

Every IPO gets a projected first-day range and a probability of opening above the offer price, built from the most similar past listings on Bursa Malaysia. Across 246 IPOs in the walk-forward back-test, the model called the first-day direction right 74% of the time. Educational estimates, not investment advice.

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Facts on this page come from Bursa Malaysia announcements, the prospectus and issuing-house press releases, and can change. CISCOM is an educational service and does not provide investment advice. Past performance does not guarantee future results. Consult a licensed adviser before investing.