KUALA LUMPUR: MST Golf Group Bhd’s upcoming listing on Bursa Malaysia’s Main Market on July 20, 2023, has seen overwhelming demand, with its initial public offering (IPO) oversubscribed by an impressive 5.28 times. The IPO involved 228 million shares, consisting of 160 million new shares and 68 million existing shares, priced at 81 sen each.
In a recent announcement, Malaysian Issuing House Sdn Bhd revealed that the institutional offering of up to 178.60 million shares, including 110.60 million shares and 68.0 million offer shares, was subscribed by 6.39 times. “The institutional offering received substantial interest from institutional and selected investors, resulting in approximately RM924 million in demand,” said the company.
Furthermore, for the Malaysian public, a total of 41.50 million IPO shares were made available, attracting 2,603 applications for nearly 62.73 million shares valued at around RM50.81 million, representing an overall subscription rate of 1.51 times. Within this, applications for the Bumiputera portion amounted to 1,316 applications for 15.47 million shares, with a subscription rate of 0.75 times. Meanwhile, the other Malaysian public portion received 1,287 applications for 47.25 million shares, resulting in a subscription rate of 2.28 times.
“The eligible persons segment, including the 7.90 million shares, was fully subscribed,” the company added. RHB Investment Bank Bhd is spearheading the IPO exercise as the principal adviser, sole underwriter, and sole placement agent. – Bernama
Credit: The Star : Business Feed
