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    Successful Listing of Keyfield International Berhad

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    Keyfield International Berhad shares soared 88.88% on its market debut. The company owns vessels for offshore oil and gas work and raised RM188.1 million in its IPO. Proceeds will repay debts and purchase two new vessels to take advantage of growing offshore activity.

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    Successful Listing of Keyfield International Berhad

    Uploaded by

    d.zamri02
    76 views4 pages
    Keyfield International Berhad shares soared 88.88% on its market debut. The company owns vessels for offshore oil and gas work and raised RM188.1 million in its IPO. Proceeds will repay debts and purchase two new vessels to take advantage of growing offshore activity.

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    SUCCESSFUL LISTING OF KEYFIELD INTERNATIONAL BERHAD

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    Keyfield International Berhad shares soared 88.88% on its market debut. The company owns vessels for offshore oil and gas work and raised RM188.1 million in its IPO. Proceeds will repay debts and purchase two new vessels to take advantage of growing offshore activity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    76 views4 pages

    Successful Listing of Keyfield International Berhad

    Uploaded by

    d.zamri02
    Keyfield International Berhad shares soared 88.88% on its market debut. The company owns vessels for offshore oil and gas work and raised RM188.1 million in its IPO. Proceeds will repay debts and purchase two new vessels to take advantage of growing offshore activity.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 4

    PRESS RELEASE

    FOR IMMEDIATE DISTRIBUTION

    KEYFIELD INTERNATIONAL BERHAD SHARE PRICE SOARS 88.88% ON MAIN


    MARKET DEBUT

    Kuala Lumpur, 22 April 2024 – Keyfield International Berhad (凯辉国际有限公司) (“Keyfield”), made
    its trading debut on the Main Market of Bursa Malaysia Securities Berhad this morning under the stock
    name of ‘KEYFIELD’ and stock code of 5321.

    Keyfield shares opened at RM1.70, representing a premium of 88.88% over its initial public offering
    (“IPO”) price of RM0.90, with an opening volume of approximately 18,661,100 shares.

    Keyfield and its subsidiaries (“Keyfield Group”) are principally involved in the chartering of vessels,
    particularly accommodation work boats(多功能海工居住船). Presently, Keyfield Group owns 11
    Malaysian-flagged vessels with capacities ranging from 50 to 500 persons.

    Prior to its debut, the market had presented a strong demand for Keyfield shares. The 40.0 million new
    shares made available for the Malaysian public were oversubscribed by 9.69 times, while the 71.8
    million and 73.2 million new shares available via private placement to selected investors and MITI-
    approved Bumiputera investors, respectively, were fully placed out.

    The listing exercise successfully raised RM188.1 million, of which RM61.5 million or 32.7% will be
    utilised to redeem Keyfield’s cumulative redeemable non-convertible preference shares. Keyfield is
    also allocating RM65.0 million or 34.6% and RM35.0 million or 18.6% to settle the balance purchase
    consideration for two vessels, namely Blooming Wisdom and Keyfield Helms 1 respectively. RM26.6
    million or 14.1% has been earmarked to repay bank borrowings, working capital and listing related
    expenses.

    Speaking at the listing ceremony earlier this morning, Keyfield Executive Director and Group Chief
    Executive Officer Dato’ Darren Kee Chit Huei said, “The listing today marks a significant milestone for
    Keyfield in becoming a listed entity on Bursa Securities. We are grateful with the remarkable opening
    price today, and we thank the investors for their support and belief in our listing. The opening price

    Page 1 of 4
    validates the over-subscription of our shares, demonstrating the investing public’s confidence in
    Keyfield and the offshore support vessels industry, particularly for Accommodation Work Boats. The
    funds raised will be used to pare down borrowings as we take a step forward into a new chapter
    towards future growth opportunities.”

    Dato Darren Kee continued by saying “The expected surge in offshore activities, coupled with the
    limited supply of suitable vessels in the industry, bodes well for local offshore accommodation vessel
    players. With our fleet of 11 Malaysian-flagged vessels and access to third party vessels, Keyfield is
    well-positioned to support the local oil and gas industry.”

    M&A Securities Sdn Bhd is the principal adviser and underwriter for Keyfield’s IPO. It is also the joint
    placement agent together with Maybank Investment Bank Berhad.

    page 2 of 4
    From left to right:

    1. Mr Chia Chee Hoong (谢志雄)


    (Independent Non-Executive Director, Keyfield International Berhad)
    2. Mr Lim Chee Hwa(林志华)
    (Independent Non-Executive Director, Keyfield International Berhad)
    3. Puan Julannar Binti Abdul Kadir
    (Independent Non-Executive Director, Keyfield International Berhad)
    4. En Mohd Erwan Bin Ahmad (尔万)
    (Executive Director & Group Chief Operating Officer, Keyfield International Berhad)
    5. Dato’ Darren Kee Chit Huei (拿督纪日辉)
    (Executive Director & Group Chief Executive Officer, Keyfield International Berhad)
    6. Puan Haida Shenny Binti Hazri
    (Independent Non-Executive Chairperson, Keyfield International Berhad)
    7. Datuk Muhamad Ummar Swift
    (Chief Executive Officer, Bursa Malaysia Berhad)
    8. Datuk Bill Tan (拿督陈俊㟽)
    (Managing Director, M&A Equity Holdings Berhad)
    9. Mr Michael Oh-Lau (胡刘忠仁)
    (Group Chief Executive Officer, Maybank Investment Banking Group)
    10. Mr Gary Ting (丁华代)
    (Head of Corporate Finance, M&A Securities Sdn Bhd)

    ABOUT KEYFIELD INTERNATIONAL BERHAD

    Keyfield International Berhad (“Keyfield”) is one of Malaysia's leading fleet owners of self-propelled
    accommodation workboats. Established in 2013, Keyfield is principally involved in the chartering of
    vessels, providing offshore accommodation, catering, housekeeping, laundry, and medical support
    services. Presently, Keyfield owns 11 Malaysian-flagged vessels with capacities ranging from 50 to 500
    persons. The total capacity is 2,134 persons, of which 1,665 can be utilised by passengers.

    Keyfield’s fleet, which is equipped with dynamic positioning and/or mooring system, serves different
    stages of the upstream oil and gas sector and can also serve non-oil and gas customers who require
    offshore accommodation. Its vessels provide onboard amenities such as VSAT internet connectivity,
    cabins fitted with bathrooms, conference/meeting rooms, offices, a galley (onboard kitchen), a
    mess/dining room and gymnasium.

    page 3 of 4
    Keyfield, licenced by PETRONAS since 2018, is a panel contractor to PETRONAS Carigali Sdn Bhd (“PCSB”)
    and petroleum arrangement contractors (“PACs”), allowing it to participate directly in all
    accommodation vessels related tenders issued by PCSB and PACs. In addition to its own fleet, Keyfield
    also leverages on its unique position to offer third party vessels to meet the demand of its customers.

    Its main customers include PCSB, Petra Resources Sdn Bhd, Malaysia Deepwater Production
    Contractors Sdn Bhd, Helms Geomarine Sdn Bhd, Perdana Nautika Sdn Bhd and various oil and gas
    contractors.

    For more information about Keyfield, please visit https://keyfieldoffshore.com/.

    Issued by Imej Jiwa Sdn Bhd on behalf of Keyfield International Berhad

    For further media inquiries please contact:


    Sandra Tan (Imej Jiwa)
    E-mail: [email protected] | Mobile: +6017 395 0122

    Emile Koh (Imej Jiwa)


    E-mail: [email protected] | Mobile: +6017 669 2033

    page 4 of 4

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