KUALA LUMPUR: MYMBN Bhd, a leading bird’s nest processor, has received overwhelming demand for its initial public offering (IPO) ahead of its listing on the ACE Market of Bursa Malaysia on July 25, 2023. The IPO was oversubscribed by a remarkable 30.77 times, with a total of 7,712 applications received for 613.13 million shares from the Malaysian public.
Among the applications, the Bumiputera portion saw a strong demand, with 3,734 applications received for 216.19 million new shares, resulting in an oversubscription rate of 21.40 times. The other Malaysian public portion also witnessed significant interest, with 3,978 applications for 396.93 million new shares, oversubscribed by 40.13 times.
Furthermore, the eligible directors, employees, and individuals who contributed to the success of MYMBN and its subsidiaries fully subscribed to the 18.67 million shares allocated to them. On the other hand, Mercury Securities Sdn Bhd, the sole placement agent for the IPO, confirmed the full placement of the 60.02 million new shares available for private placement to selected investors.
Credit: The Star : Business Feed
