KUALA LUMPUR: Energy services group Serba Dinamik Holdings Bhd
’s public issue of 26.7 million shares under its initial public offering has been oversubscribed by 4.96 times.
Malaysian Issuing House Sdn Bhd (MIH) said in a statement that 10,017 applications for 159.0 million shares were received for these reserved shares, which were offered at RM1.50 apiece.
A total of 5,742 applications for 77.86 million issue shares were received for the bumiputra category, representing an oversubscription of 4.83 times.
Under the public category, 4,275 applications for 81.15 million shares were received for an oversubscription rate of 5.08 times, MIH said.
The IPO involves the issuance of up to 389.4 shares, with the retail offering amounting to 48.1 million shares and the institutional offering comprising up to 341.3 million shares.
It was reported that Serba Dinamik aimed to raise total gross proceeds of RM407.1mil, of which about 74% would be used for the expansion of the group’s business and operational facilities.
Serba Dinamik provides engineering solutions to the oil and gas and power generation industries.
The company’s tentative listing date on Bursa Malaysia’s Main Market is Feb 8.
Limited time offer:
Just RM5 per month.
