SALUTICA - Bluetooth expert

LISTING TOMORROW (18th May 2016) on Ace Market of Bursa Malaysia

SALUTICA 

✅Salutica is a IPOH based company which is in the business of manufacturing bluetooth devices and other electronics and precision parts for external brands. It also has its own in house product line of Bluetooth 4.0 Technology,  with the brand name FOBO.

✅Salutica raised RM 62.4m from the issuance of 78m shares, with the proceeds being utilized for repayment of bank borrowings, working capital and R&D

✅Futures plans:
⭕expand FOBO products
⭕upgrade its existing plant
⭕new product development in        collaboration with its customers
⭕increase FOBO presence by adding 14 new distribution channel

✅It shares were oversubscribed by 9.98 times

IPO price: RM 0.80
♦RHB values it at RM1.18 (48% upside)
♦PUBLIC values it at RM0.99 (23% upside)

Market capitalization: RM310.4m
No of shares: 388m
Estimated free float: 26.0%

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