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MOG Holdings
MOG Holdings
Nominal: 0.910 RT Quote
Open-offer-subscription Rate: 40.04x One Lot Success Rate: 35%

MOG Holdings is the second largest retailer of optical products in Malaysia in terms of revenue, accounting for approximately 7.1% of the market share in 2018. The Group offers a wide range of optical products which generally include lenses, frames, contact lenses and sunglasses from International Brands; the Group's Own Brands; and Manufacturers' Brands carried by the Group. The Group's optical product brands portfolio consisted of more than 220 International Brands and Own Brands catering to multiple price points in the eyewear retail market.

In 2009 and 2010, the Group commenced its licensing business and franchising business respectively with a view to deepening its penetration in the Malaysian eyewear retail market. In August 2019, the Group launched its online sales platform focusing on the sales of frames from its Own Brands to customers in Malaysia. The Group's retail network, which comprised 83 self-owned, 10 franchised and two licensed retail stores located across Central, Southern, Northern and Eastern Peninsular Malaysia.

The Group adopts a multi-brand strategy to cater to different demographics within the eyewear retail market. The Group had 10 retail brands covering the high-end, mid-end and mass-market segments of the Malaysian eyewear retail market. The Group's retail brand portfolio also included a retail brand which focuses on the sales of contact lenses.

The Group's revenue mainly comprised of sales of optical products to retail customers under its Retailing Business; franchisees under its Franchising and Licensing Business; and the Malaysian Interested Companies and the Thai Interested Companies under its Minority Sales Business. The Group also derived a lesser portion of its revenue from franchise and royalty fees under its Franchising and Licensing Business.

MarketHong Kong (Main Board)
Business NatureTextiles, Clothing & Accessories
Board Lot2,000
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
No. of Offer Shares125m shares
No. of International Placing Shares113m shares
No. of HK Offer Shares12.50m shares
Offer Price$1.00 - $1.20
Nominal ValueHK$ 0.01 each
Stock Code1942
Sole SponsorZhongtai International Capital
Sole Global Coordinator and Sole BookrunnerZhongtai International Securities
Joint Lead ManagersZhongtai International Securities, Livermore Holdings, SPDB International Capital, Valuable Capital
Application PeriodMar 28 (Sat) - Noon, Apr 6 (Mon)
Price Determination DateOn or Before 5pm, Apr 6 (Mon)
Result Announcement DateOn or Before Apr 14 (Tue)
Dispatch of Shares and Refund ChequesOn or Before Apr 14 (Tue)
Dealings in Shares commence onApr 15, 2020. (Wed)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
ExecutiveNg Kwang Hua (Chairman), Ng Chin Kee, Low Lay Choo
Independent Non-ExecutiveNg Kuan Hua, Ng Chee Hoong, Jiao Jie
Director Ng Kwang Hua33.75%
Director Ng Chin Kee33.75%
Director Low Lay Choo7.50%
(Year ended Mar 31)
2020 *20192018
Gross Profit47,28983,96067,900
Pre-Taxed Profit11,41129,49820,255
Attributable Profit for the period6,16820,64113,186
* For the six months ended September 30, 2019.
Offer Price$1.00 - $1.20
Capitalization$500m - $600m
Unaudited pro forma adj NAV / share$0.40 - $0.44
Assuming the offer price being at the mid-point of $1.10, the net proceeds raised would be HK$102.7m, of which:
* $57.4m (55.9%) to expand the Group's retail network, through setting up 36 self-owned retail stores (which are intended to be wholly owned) in various parts of Malaysia;
* $10.4m (10.1%) to upgrade and renovate the Group's self-owned retail stores;
* $9.5m (9.3%) to promote recognition of the Group's 11 retail brands and to further develop and market the Group's Own Brands optical products;
* $11.3m (11.0%) to enhance the Group's production capabilities with regards to customised lenses by jointly developing an optical lab in Malaysia with an internationally renowned lens manufacturer for the production of customised lenses;
* $8.8m (8.6%) to upgrade the Group's information technology systems and enhance its operational efficiency by acquiring a RMS and upgrading its POS systems;
* the balance of $5.3m (5.1%) as additional working capital.
No related information.
Code Name Nominal Change %Change
00125SUN HING VISIONunchange1.4500.0000.000%
01120ARTS OPTICALunchange0.7800.0000.000%
01942MOG HOLDINGSup0.9100.0202.247%
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: 13/04/2021 17:59
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