Matang IPO oversubscribed by 4.2 times

KUALA LUMPUR: Oil palm plantation company Matang Bhd, which is eyeing a listing on the Ace Market, has attracted share applications from the Malaysian public representing an oversubsription rate of 4.21 times.

Tricor Investor & Issuing House Services Sdn Bhd said in a statement that a total of 6,389 applications for 676.655 million shares were received for the 130 million new 10-sen shares made available for subscription at an issue price of 13 sen apiece.