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2009-09-25

IJM has fixed the issue price for the IJM warrants at RM0.25

Subscribe to the warrants issue
IJM has fixed the issue price for the IJM warrants at RM0.25 and exercise price at RM4.00. This was after taking into consideration the theoretical ex-bonus price of IJM shares of RM4.23, which was calculated based on the 5-day volume weighted average price of IJM Shares up to and including 7 September 2009 of RM5.93. The ex-date for the 2-for-5 bonus issue is 29 September 2009.

As for the renounceable rights issue of 134.9m warrants on a 1 for 10 basis post the bonus issue, the rights will commence trading on 2 October 2009, the date of despatch of the prospectus and provisional allotment letter of offer is 5 October 2009, and the last day and time for acceptance,
renunciation and payment is 16 October 2009.

HWangDBS advise investors to take up the warrants issue to avoid any potential dilution. Moreover, at current cum price of RM6.60 (ex price of RM4.71), the warrants are in the money, whilst also considering the long expiry of 5 years. In addition IJM's orderbook of RM4.3bn is evenly distributed locally and overseas will give the mother share to bounds up. HwangDBS TP for IJM Corp at RM8.70.









For more information about IJM Corp click here:-
http://fbm-klci.blogspot.com/2009/09/hwangdbs-raising-ijm-corp-target-price.html

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