West River's initial public offering (IPO) shares were oversubscribed by 0.26 times, ahead of its ACE Market listing.
The engineering firm received 1,288 applications for 22,454,300 issue shares, worth nearly 8.8 million ringgit from the Malaysian public, according to a Wednesday prospectus filed on Bursa Malaysia.
For the Bumiputera Malaysian Public portion, the company received 548 applications for 5,048,600 issue shares. For the other Malaysian public portion, a total of 740 applications for 17,405,700 issue Shares were received, showing an oversubscription rate of 0.95 times.
Meanwhile, 8,942,500 issue shares made available for application by the eligible persons have also been fully subscribed. The Placement Agent confirmed that all 44,712,500 new shares for Bumiputera investors and 35,770,000 existing shares for selected investors have been fully taken up via private placement, it added.
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