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Ritamix Global
Ritamix Global
Nominal: 5.100 RT Quote
Open-offer-subscription Rate: 5.33x One Lot Success Rate: 30.01%
COMPANY PROFILE

Ritamix Global is a Malaysia-based company principally engaging in distribution of animal feed additives and, to a lesser extent, human food ingredients; and manufacturing of animal feed additives premixes. Itsourced over 300 brand products from over 70 suppliers of different brand names to promote and distribute their products in Malaysia. It also produced over 150 own brand animal feed additives premixes for sales in Malaysia and overseas.

The Group has been primarily serving the agricultural industry in Malaysia for over 37 years. It started out as an animal feed additives distributor in 1982 and subsequently tapped into the manufacturing of animal feed additives premixes after acquiring the manufacturing plant from BASF in 2007.

The Group has entered into 16 distribution agreements with suppliers for the sales of animal feed additives and human food ingredients in Malaysia. It will advise on the application of different types of products and provide technical supports to customers, as well as provide after sales services to keep track of the effects of the products on poultry and livestock.

The Group had a diversified product portfolio of over 450 products, approximately 67% of which were brand products sourced from suppliers while the remaining 33% comprised of its own brand products. Its own brand premix products were sold to over 700 customers which mainly include feedmills, integrators and home mixing farms.

It possesses a GMP-compliant manufacturing plant installed with a seven-storey automated mixer to sieve, weigh and homogenise its own brand animal feed additives premixes in accordance with different formulae.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureAgricultural Products
Websitewww.ritamix-global.com
Board Lot2,000
Registrar & Transfer OfficeBoardroom Share Registrars (HK)
SHARE OFFER
No. of Offer Shares125m shares
No. of Placing Shares113m shares
No. of Public Offer Shares12.50m shares
Offer Price$1.00 - $1.20
Nominal ValueHK$ 0.01 each
Stock Code1936
SponsorMessis Capital
Sole BookrunnerAstrum Capital Management
Joint Lead ManagersAstrum Capital Management, Wealth Link Securities
TIME TABLE
Application PeriodApr 24 (Fri) - Noon, May 4 (Mon)
Price Determination DateOn or Before 5pm, May 6 (Wed)
Result Announcement DateOn or Before May 12 (Tue)
Dispatch of Shares and Refund ChequesOn or Before May 12 (Tue)
Dealings in Shares commence onMay 13, 2020. (Wed)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveLee Haw Yih, Yaw Sook Kean
Non-ExecutiveLee Haw Shyang
Independent Non-ExecutiveNg Siok Hui, Lim Chee Hoong, Lim Heng Choon
MAJOR SHAREHOLDERS
Garry-Worth67.5%
Pre-IPO Investor7.5%
INCOME STATEMENT (MYR'000)
(Year ended Dec 31)
201920182017
Revenue126,053128,600108,062
Gross Profit29,26236,42622,568
Pre-Taxed Profit18,88522,16514,558
Attributable Profit for the period13,71815,90610,856
OFFER STATISTICS (HK$)
Offer Price$1.00 - $1.20
Capitalization$500m - $600m
Unaudited pro forma adj NAV / share$0.49 - $0.53
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $1.10, the net proceeds raised would be HK$82.3m, of which:
* $47.8m (58.1%) to partly finance the construction of a new manufacturing plant;
* $15.2m (18.5%) to for funding potential acquisition of and/or business collaboration with a company which is a distributor in Malaysia;
* $4.0m (4.9%) to set up a new testing laboratory;
* $4.2m (5.1%) to set up a centralised ERP system;
* $2.0m (2.4%) for sales and marketing activities;
* $3.4m (4.1%) to hire staff;
* $1.7m (2.0%) to purchase and vehicles;
* the balance of $4.0m (4.9%) as additional working capital.
CHART
IPO NEWS
No related information.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
00043C.P. POKPHANDdown0.670-0.010-1.471%
01936RITAMIXup5.1000.4008.511%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 03/07/2020 17:58
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