Hartanah Kenyalang's initial public offering (IPO) was oversubscribed by 5.33 times, ahead of its listing on the ACE Market of Bursa Malaysia on June 9.
The construction company received a total of 5,119 applications for 196.2 million IPO shares worth 31.4 million ringgit, from the Malaysian public, according to a Thursday Malaysian bourse filing.
For the Bumiputera Malaysian public category, a total of 2,394 applications for 61.1 million IPO shares were received, showing an oversubscription rate of 2.94 times.
For the other Malaysian public category, a total of 2,725 applications for 135.1 million IPO shares were received, reflecting an oversubscription rate of 7.72 times.
A total of 2,394 applications were received for 61.1 million IPO shares under the Bumiputera category, resulting in an oversubscription rate of 2.94 times.
For the other Malaysian public portion, 2,725 applications were submitted for 135.1 million shares, reflecting an oversubscription rate of 7.72 times.
Meanwhile, all 18.6 million shares allocated to eligible directors, employees, and contributors to the Group's success were fully subscribed. The 77.3 million shares offered via private placement to selected investors were also fully placed out.
Moreover, 77.5 million shares earmarked for identified Bumiputera investors approved by MITI were fully placed out, the filing added.
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