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Thursday, November 27, 2014

IPO- OWG

OWG: It plans to raise RM50mil from its initial public offering (IPO).
 
The IPO would entail 56.41 million new shares priced at 88 sen per share.
 
Of the RM50mil from the IPO ,RM30mil will be earmarked for Penang's Komtar Tower refurbishment, RM13mil for business expansion, RM2mil working expenses and the balance for expenses relating to the IPO.

Meanwhile, on the Komtar Tower development, the company is undertaking the refurbishment of five specific levels within it at a total cost of RM6mil. The project is currently about 40% complete and expected to be fully completed between July and August 2015.

Established in 1973, Only World Group is a leisure and hospitality services provider that incorporates the operations of food and service outlets, water amusement parks and family attractions.

The largest revenue and profit contributors to the company was food service operations, with the company operating 16 of its own brands and one third party brand.
 
The company operates three water amusement parks under the Wet World brand as well as two family attractions – Ripley's Believe It Or Not and Haunted Adventure.
 

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