LKL International IPO oversubscribed by 92.84 times

KUALA LUMPUR: LKL International Bhd, en route to a listing on Bursa Malaysia ACE Market, has received an oversubscription rate of 92.84 times for its eight million shares made available for public subscription.

A total of 12,642 applications for 750.73 million shares were received from the public (including 6,621 applications for 350.96 million shares under the bumiputra category).

The applications for the bumiputra category represented an oversubscription of 86.74 times for the four million shares on offer.

The medical/healthcare bed provider said pursuant to the terms of the prospectus, 9.31 million shares initially reserved for bumiputra investors approved by the International Trade and Industry Ministry (Miti) were clawed back and made available to the Malaysian public under the bumiputra category via balloting.

Initially, 49.6 million shares were made eligible for bumiputra investors approved by Miti.

Apart from that, 13.2 million shares have been allocated to eligible directors, employees and persons who have contributed to the success of LKL International and 42.2 million shares set aside for selected investors. - Bernama